Cronos gas field FID to reinforce Egypt’s hub ambitions – minister

Egypt’s petroleum minister welcomed the final investment decision (FID) to develop Cyprus’ Cronos gas field on Monday, saying the project would strengthen energy cooperation between the two countries and reinforce Egypt’s role as a regional gas hub.

Petroleum and Mineral Resources Minister Karim Badawy said the decision reflected international energy companies’ confidence in Egypt’s gas infrastructure. Under the project, gas from the offshore Cypriot field will be transported to Egypt for processing through the Zohr facilities before being liquefied at the Damietta liquefied natural gas (LNG) plant for export to European markets.

Badawy said the project would be the first to connect Cypriot gas discoveries directly to Egypt’s infrastructure, paving the way for further development of Eastern Mediterranean gas resources while maximising the use of Egypt’s existing processing and liquefaction facilities.

The FID follows the completion of agreements governing the use of Egypt’s gas processing and LNG infrastructure, the ministry said. Production is expected to begin in 2028, supporting the continued operation of Egypt’s LNG facilities and strengthening its role as a regional export hub for Eastern Mediterranean gas.

The Cronos development is part of broader efforts by Egypt and Cyprus to commercialise Eastern Mediterranean gas discoveries by using Egypt’s existing energy infrastructure, avoiding the need to build new liquefaction facilities and accelerating exports to international markets.