TotalEnergies and Eni have taken the Final Investment Decision (FID) to develop the “Kronos” natural gas field, discovered in 2022 and successfully appraised in 2024. The companies each hold a 50% stake in Cyprus’ offshore Block 6, with Eni as operator.
Located in deep waters around 185 kilometers southwest of Cyprus, Kronos will be developed through four subsea wells. Gas will be transported by subsea pipeline to Egypt, where it will be liquefied at the Damietta LNG terminal before being exported to European markets.
The project will partially rely on existing Egyptian infrastructure, enabling a fast-track development that is expected to accelerate production and reduce the field’s carbon intensity.
Production is scheduled to begin in 2028, with peak output of around 500 million cubic feet per day, equivalent to approximately 2.8 million tonnes of LNG annually. TotalEnergies will market 50% of the LNG produced.
Following the signing of a Host Government Agreement in February 2025, the main commercial and contractual agreements required for the project have been finalized, covering the use of Zohr field infrastructure, gas transit through Egypt, liquefaction at Damietta and LNG sales.
The project could also facilitate the future development of additional resources in Block 6. TotalEnergies CEO Patrick Pouyanné said Kronos would help establish a new regional gas hub in the Eastern Mediterranean and contribute to Europe’s energy security by diversifying LNG supplies.
In Cyprus, TotalEnergies also holds interests in offshore Blocks 11 (50%, operator), 7 (50%, operator) and 8 (40%).
Source: tovima.com
