Market Intelligence
Cyprus Gas to Feed Egyptian LNG Infrastructure from 2028
The approved offshore Cronos development in Cyprus is slated to supply natural gas to Egypt for liquefied natural gas exports beginning in 2028.
Egypt is looking to offshore gas reserves from Cyprus to support its domestic export infrastructure amid declining local output. The proposed arrangement provides Cyprus with a viable route to international markets that would otherwise be cost-prohibitive to develop alone.
Central to this plan is the recently sanctioned Cronos project located offshore Cyprus. The field is expected to yield up to 2.8 million tonnes of liquefied natural gas per year once operations commence in 2028.
The initiative is structured to bolster energy supplies to Europe as an alternative to Russian gas via Egyptian liquefaction plants. However, the regional project still faces potential hurdles involving commercial agreements, technical execution, and geopolitical factors.
Source attribution
This report was written by the Global Freight editorial desk based on material published by OilPrice.com. It is an original summary and analysis, not a reproduction of the source text. Figures and claims are limited to those present in the source material.
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