TotalEnergies and Eni have approved the Final Investment Decision (FID) for the development of the Cronos gas field in Cyprus’ offshore Block 6, marking a key milestone for what will become the country’s first gas development project.
The Cronos field, discovered in 2022 and successfully appraised in 2024, is jointly owned by TotalEnergies (50 percent) and Eni (50 percent), with Eni serving as operator. Located approximately 185 kilometres southwest of Cyprus in deep offshore waters, the project will be developed through four subsea wells.
Under the development plan, natural gas will be transported via a subsea pipeline from Cypriot waters to Egypt, where it will be processed and liquefied at the Damietta LNG terminal before being exported to European markets.
The partners said the project will leverage existing Egyptian infrastructure, including offshore facilities and LNG processing capacity, allowing for a faster development timeline while reducing the carbon intensity of production through the use of existing assets.
Production is expected to begin in 2028, reaching a plateau of approximately 500 million cubic feet of gas per day, equivalent to around 2.8 million tonnes of liquefied natural gas (LNG) annually. TotalEnergies is expected to market half of the LNG output.
The FID follows the signing of a Host Government Agreement in February 2025 and the completion of the commercial and contractual agreements required to advance the project. These agreements cover access to the Zohr offshore facilities, gas transportation through Egypt, liquefaction at the Damietta LNG plant, and the sale of LNG into international markets.
The companies also indicated that the Cronos development could support the future commercialisation of additional gas resources within Block 6, which are scheduled for appraisal during upcoming exploration campaigns.
Patrick Pouyanné, chairman and chief executive officer of TotalEnergies, said the project would establish Cyprus’ first gas development while contributing to the emergence of a regional gas hub in the Eastern Mediterranean by utilising Egypt’s existing energy infrastructure. He added that the project aligns with the company’s strategy of prioritising low-cost, lower-emission developments and is expected to support the continued expansion of TotalEnergies’ global LNG portfolio.
Beyond Block 6, TotalEnergies also holds offshore interests in Cyprus’ Block 11, where it is operator with a 50 percent stake, Block 7, where it also operates with a 50 percent interest, and Block 8, where it owns a 40 percent stake.
TotalEnergies is currently one of the world’s largest LNG suppliers, with a global portfolio of 44 million tonnes in 2025. The company has stated that it aims to increase natural gas to nearly half of its energy sales mix by 2030 as part of its broader strategy to reduce carbon emissions, eliminate methane emissions across its gas value chain, and support the transition from coal to natural gas in partnership with local stakeholders.
For more information visit www.totalenergies.com
