Cyprus has taken a major step forward with the cabinet’s approval of the development and production plan for the Cronus gas field in Block 6 of its exclusive economic zone. The same block also hosts the Calypso and Zeus fields, operated by a consortium led by Eni and TotalEnergies.
With this move, Cyprus edges closer to fully harnessing its offshore energy resources. Energy Minister Michalis Damianou highlighted that the milestone positions the Eastern Mediterranean as a key energy hub, while supporting the EU’s push to strengthen energy security through diversified sources and routes.
The goal is clear: by 2028, Cyprus plans to deliver its first natural gas to Europe via Egypt. Meanwhile, the President has hinted at imminent announcements in partnership with Exxon, signalling further momentum.
It is worth recalling that Cyprus made its first discovery in its EEZ back in 2011. Fifteen years on, the cabinet has now given the green light to Cronus’ development, alongside agreements covering the core terms for the sale of Cypriot gas. Experts describe this as a landmark moment for the country’s energy ambitions.
Eni’s drilling estimates place Cronus’ reserves at roughly 2.5 trillion cubic feet, with even larger volumes in Zeus. Small quantities were also found in Calypso, though the operator has not specified exact figures.
It is clear the countdown to exploiting Cyprus’ energy wealth is underway. Years of political, diplomatic, and technical effort are finally paying off. The involvement of major international players provides strong assurance that the country’s natural resources will be brought to market. Delayed by geopolitical hurdles, the path is now clear—and let’s hope, for good, that there’s no turning back. Cyprus is moving forward.
