What is the timeline and key objective of the Cronos gas project off Cyprus, according to the news?

Eni and TotalEnergies are working to make a final investment decision on the Cronos field development by the end of July, with the goal of liquefying the gas in Egypt and exporting it by tanker to European markets starting in 2028; the project aims to provide Europe with a nearby gas source amid ongoing supply challenges following the Ukraine invasion and disruptions from the Iran war.

Who owns and operates the Cronos project, and what strategic benefit does TotalEnergies expect from it?

The Cronos project is a 50–50 joint venture operated by Eni, and TotalEnergies CEO Patrick Pouyanné stated it will give Total 'access to 1.4 million tons of LNG in Egypt just in front of the European market,' potentially paving the way for further developments in Cyprus.

Eni, Total Near Approval of Cyprus Gas Project to Supply Europe

Jul 23, 2026

Eni and TotalEnergies are nearing a final investment decision on the Cronos gas field off Cyprus, aiming to liquefy gas in Egypt for European exports by 2028 to diversify supply sources.

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