Cyprus expects to start gas exports to Europe via Egypt by 2028

The President of Cyprus, Nikos Christodoulides, stated that the republic intends to start supplying its own natural gas to Europe via Egypt as early as 2028. He announced this ahead of a Council of Ministers meeting dedicated to energy issues.

According to the head of state, the Cabinet approved the development and production plan for the "Cronos" gas field, as well as agreements defining the main terms for the sale of Cypriot gas.

Christodoulides emphasized that this represents a key milestone in the development of the country's energy sector. He recalled that the first gas field in Cyprus's exclusive economic zone was discovered back in 2011, and 15 years later, the authorities are moving to the practical phase of resource development.

"Our goal is to sell the first Cypriot natural gas to Europe via Egypt by 2028," the president declared.

He noted that all necessary agreements for the project are already being approved at the state level.

The president also reported ongoing negotiations with ExxonMobil regarding the further development of energy projects. According to him, the consultations are at an advanced stage, and the authorities are ready to announce the next steps in the near future.

The project is seen as strategically important not only for the Cypriot economy but also for the energy security of the region. The authorities expect that gas exports will allow the country to strengthen its position in the European energy market and attract new investments.