An oil rig. Photo courtesy of Egypt oil and gas group.
The Cronos gas field is in Block 6 of Cyprus' Exclusive Economic Zone (EEZ), discovered in 2022 around 185 kilometers southwest of the Cypriot coast and initially holds 3 trillion cubic feet (Tcf) of gas.
Production is scheduled to start in 2028, using four subsea wells to produce a steady rate of around 500 mullion cubic feet per day or around 2.8 million tons per year (Mtpa) of LNG.
Gas will be transported via the subsea pipeline from Cypriot waters to Egypt to gas processing facilities at the Zohr field, to be liquefied using pre-established hydrocarbon infrastructure at the Damietta liquified natural gas (LNG) terminal before being exported to Europe.
Using established infrastructure will cut costs, minimize environmental impact, speed up time to market and "contribute to Europe’s energy security by diversifying its LNG supply sources,” TotalEnergies Chairman and CEO Patrick Pouyanné said.
The project will establish Egypt as a new regional gas hub for trading, distribution and re-exporting of gas in the Eastern Mediterranean to global markets, maximizing the utilization of the country’s technical, operational capabilities and integrated gas infrastructure, according to Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi.
This is also the first project to directly link Cypriot discoveries to Egyptian foundations, supporting the advancement of Egyptian-Cypriot relations and strengthening energy security.
In February 2025, Egypt, Cyprus, and Eni set out a plan for the rapid development of the Cronos gas discovery, signing a Host Government Agreement (HGA) for the main commercial and contractual agreements necessary for the project's development.
Eni and TotalEnergies own a 50 percent stake each in Block 6, alongside production rights with Eni acting as sole operator of the block. Each firm is entitled to market half of the production, around 1.4 Mtpa.
Furthermore, the project help raise operation rates of Egypt's assets, to achieve sustainable economic returns while attracting more investments as the country seeks to expedite the development of new discoveries.
It will also contribute to the growth of TotalEnergies’ LNG portfolio, which will reach 60 Mtpa by 2030, as well as Eni’s contracted LNG portfolio to exceed 20 MTPA by 2030.
Eni said in 2023 it would invest $7.7 billion in Egypt over four years to boost exploration and production. In November 2025, Eni announced it will invest a further $8 billion in Egypt over the next five years to expand existing fields and pursue new exploration.
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