Cyprus and Egypt agree on natural gas field development
The Republic of Cyprus and Egypt have signed a framework agreement for the development of the "Cronos" and "Aphrodite" gas fields. The document was signed in Cairo during the EGYPES 2026 energy conference by the energy ministers of the two countries.
The agreement stipulates that gas extracted in Cyprus will be supplied to Egypt or Egyptian state companies, and processed at Egyptian liquefied natural gas facilities for subsequent export.
Major international companies are involved in the projects:
- TotalEnergies and Eni — at the "Cronos" field (Block 6),
- Chevron, Shell, and NewMed Energy — at the "Aphrodite" field (Block 12).
Gas production at the "Cronos" field is expected to begin by the end of 2027, while the first gas from the "Aphrodite" field is anticipated around 2030, following the completion of all project preparation stages.
The project is seen as part of a broader strategy to transform the Eastern Mediterranean into an energy hub and expand gas supplies to Europe.
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