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Eni, TotalEnergies Finalize Investment Decision for Cronos Gas Field Offshore Cyprus

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Italian energy group Eni (ENI.MI) and France's TotalEnergies (TTE.PA, TTE.L) made a final investment decision to develop the Cronos gas field offshore Cyprus, according to Tuesday releases.

The companies plan to develop the field through four subsea wells, with first gas targeted for 2028. Production is expected to plateau at 500 million cubic feet per day.

The gas will be transported by subsea pipeline to Egypt for processing at the Zohr facilities before being liquefied at the Damietta liquefied natural gas plant for export to international markets, primarily Europe.

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