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.