Gas from Cronos field locked in: Egypt inked three commercial agreements covering the exploitation of the Cronos offshore gas field, paving the way for processing Cypriot gas through existing infrastructure in Egypt, according to a statement. The agreements were inked by the Oil Ministry, Egas, and field partners Eni and TotalEnergies.

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Under the agreements, Egypt and the Cronos partners set the commercial and operational terms for transporting, handling, processing, and liquefying the Cypriot gas through Egyptian infrastructure. Both sides also initialed a separate tariff agreement governing the fees for using those facilities.

A confirmed timeline: The partners aim to approve the field’s development and production plan alongside a final investment decision by year-end, with first gas from Cronos targeted for 2027, according to the Cypriot statement.

REMEMBER- Egypt and Cyprus inked an agreement earlier this year that will see Cyprus ship natural gas from Cronos to be liquefied in facilities in Idku and Damietta before being re-exported to foreign markets.

The local market could get a slice: “We will send the natural gas to the Zohr infrastructure … and from there with a pipeline for liquefaction and processing and to the local market in Egypt if the parties decide so,” Cypriot Energy Minister George Papanastasiou said earlier this month.

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