Cyprus’s plans to start producing gas as early as 2027 have hit the buffers, as Eni’s negotiations with the government over contractual terms for the Cronos gas field are at an impasse and plans to take FID have stalled. After years of frustration and delays, Cyprus had appeared to be within touching distance of finally monetizing its gas reserves, but now the wait will go on.
Eni partners TotalEnergies at the 3.1tcf Cronos gas field, and they had planned to announce FID at next week’s Egypt Energy Show (EGYPES) in Cairo. Key commercial deals with Egypt, the intended destination for Cronos gas, were signed last year and the mood music was positive (MEES, 24 October 2025). (CONTINUED – 825 WORDS)
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