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 Egyptian Oil Ministry, Egas, and field partners Eni and TotalEnergies.

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 along with a final investment decision by year-end, with first gas from Cronos targeted for 2027, according to the Cypriot statement. Gas from Cronos was first reported to start flowing to Egypt for liquefaction and re-export starting in 2027, however, remarks from Cypriot Energy Minister George Papanastasiou carried out by Mees earlier this month stated that the first gas is unlikely to come before late 2027 or early 2028.

REMEMBER- Egypt and Cyprus inked an agreement earlier this year that will see Cyprus ship natural gas from Cronos to be re-exported to European markets after being processed in Zohr facilities and liquified in Damietta.

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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