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Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

European consumers can expect natural gas from Cyprus to help meet their energy needs by March 2028, Cyprus' energy minister says
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Cyprus to Supply Europe with Natural Gas by 2028 Amid Energy Diversification Efforts

Cyprus to Supply Europe with Natural Gas by 2028 Amid Energy Diversification Efforts

Cyprus is set to become a new source of natural gas for Europe by March 2028, as announced by Cyprus' Energy Minister Michael Damianos. The development of the Cronos natural gas field, located off Cyprus' southern coast, is being led by TotalEnergies and Eni. This project marks the first time gas from East Mediterranean deposits will be supplied to European markets. The initiative is part of Europe's strategy to diversify its energy sources in response to geopolitical tensions, such as Russia's war in Ukraine. The gas will be piped to Egypt for processing before being shipped to Europe. The project is economically viable due to its proximity to existing infrastructure, costing approximately $2 billion.
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Cyprus to Begin Supplying Natural Gas to Europe by March 2028 Amid Energy Diversification Efforts

Cyprus to Begin Supplying Natural Gas to Europe by March 2028 Amid Energy Diversification Efforts

Cyprus is set to supply natural gas to European consumers by March 2028, as part of efforts to diversify energy sources in response to geopolitical tensions. The development of the Cronos natural gas field, in partnership with TotalEnergies and Eni, marks the first time gas from East Mediterranean deposits will be supplied to Europe. A pipeline will connect Cronos to Egypt's Zohr deposit, where the gas will be processed and shipped to Europe. This project is seen as a strategic move to reduce Europe's reliance on Russian energy amid the ongoing war in Ukraine.
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ExxonMobil Advances Rovuma LNG Project with McDermott Engineering Award

ExxonMobil Advances Rovuma LNG Project with McDermott Engineering Award

ExxonMobil Advances Rovuma LNG Project with McDermott Engineering Award
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Chesapeake Utilities Announces $1.2 Billion Florida Energy Pathway Project Amid Strong Growth

Chesapeake Utilities Announces $1.2 Billion Florida Energy Pathway Project Amid Strong Growth

Chesapeake Utilities Announces $1.2 Billion Florida Energy Pathway Project Amid Strong Growth
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Bulgarian Prime Minister Responds to Drone Explosion Near Key Gas Pipeline

Bulgarian Prime Minister Responds to Drone Explosion Near Key Gas Pipeline

An unidentified drone carrying explosives entered Bulgarian airspace from Romania and detonated near the Trans-Balkan gas pipeline, a critical route for transporting natural gas north toward Ukraine. The explosion occurred approximately 100 meters inside Bulgarian territory, close to a Bulgarian compressor station and a Romanian facility. Bulgarian Prime Minister Rumen Radev stated that no casualties or damage to buildings were reported. The area has been cordoned off, and military specialists are examining the wreckage to determine the drone's type and origin. Bulgarian authorities have reinforced surveillance around strategic infrastructure and along the Romanian border following the incident. The origin of the drone remains unknown, and Bulgarian authorities have not established whether it was connected to Russia or Ukraine.
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Hungary's Solar Energy Boom Driven by Self-Sufficiency Politics

Hungary's Solar Energy Boom Driven by Self-Sufficiency Politics

Hungary has emerged as a leader in solar energy production in Europe, generating 25% of its electricity from solar power. This development is surprising given the country's previous stance against renewable energy, particularly wind turbines. The shift towards solar energy has been driven by political motivations for self-sufficiency and the availability of cheap subsidies, rather than environmental concerns. A new 450-megawatt solar park near Budapest is set to become operational by September 2026, providing power to approximately 106,000 households.
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Libya Plans to Increase Oil Production to 2 Million Bpd by 2030s

Libya Plans to Increase Oil Production to 2 Million Bpd by 2030s

Libya's National Oil Corporation (NOC) aims to boost the country's oil production to 2 million barrels per day (bpd) by the early 2030s, up from the current 1.4 million bpd. This goal is supported by a 2026 unified budget, which allocates over $2 billion to the NOC as an operating budget. The funding is expected to attract investments and revitalize Libya's oil and gas sector, which has seen increased activity with international companies resuming operations. Recent agreements with firms like OMV and exploration tenders mark a significant push to revive the industry after years of civil unrest.
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Airlines Face Jet Fuel Shortages Amid Strait of Hormuz Closure

Airlines Face Jet Fuel Shortages Amid Strait of Hormuz Closure

Airlines Face Jet Fuel Shortages Amid Strait of Hormuz Closure
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InterMoor Secures Long-Term Contract with Petrobras for Offshore Services

InterMoor Secures Long-Term Contract with Petrobras for Offshore Services

InterMoor Secures Long-Term Contract with Petrobras for Offshore Services
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Diversified Energy Company Expands Drilling Operations in Oklahoma

Diversified Energy Company Expands Drilling Operations in Oklahoma

Diversified Energy Company Expands Drilling Operations in Oklahoma
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Ukraine Supports Hungary's Energy Needs Amid Heatwave

Ukraine Supports Hungary's Energy Needs Amid Heatwave

Amid a severe heatwave in Europe, Hungary has increased its electricity imports from neighboring countries, including Ukraine, to compensate for the temporary shutdown of its Paks Nuclear Plant. The plant, which supplies half of Hungary's electricity, was powered down due to low water levels in the Danube River, which is essential for cooling the plant. Ukraine, despite being a net importer of electricity from Hungary due to Russian attacks on its infrastructure, exported 61 gigawatt hours to Hungary in the last week of July. The European Commission has stated that neighboring countries can cover energy shortfalls, and the situation remains stable.