20 trillion cubic feet of gas off Cyprus: Kronos target set for 2028
Around 20 trillion cubic feet of natural gas resources have been estimated across six discoveries. The aim is to transport gas from Kronos to international markets via Egypt’s infrastructure in the first half of 2028.
This article was translated from Turkish with the help of artificial intelligence. Read the original (Türkçe)
Total resources across six natural gas discoveries off Cyprus have been estimated at around 20 trillion cubic feet, with the first half of 2028 set as the target for the commercial development of the Kronos field. The plan envisages using existing infrastructure in Egypt to deliver the gas to international markets.
Republic of Cyprus Energy Minister Mihalis Damianu shared the timetable for developing hydrocarbon projects at the 22nd Economist Cyprus Conference, held in Nicosia on 9 November. The total resource estimate announced by Damianu is equivalent to around 566 billion cubic metres of natural gas.
Plan to use existing infrastructure for production and exports
Damianu said the first gas from the Kronos field is expected in the first half of 2028. Using Egypt’s infrastructure to export the gas offers a model based on existing facilities, rather than building a major liquefaction plant from scratch in Cyprus. However, the announced date is a target for the project, not confirmation that production or exports have begun.
The minister said work on developing the Aphrodite field was also progressing. The scale of revenue that could be generated by the Kronos and Aphrodite projects, and when it might feed through to the economy, will depend on the investments being realised commercially.
Resource estimates do not mean reserves are ready for production
The announced total of 20 trillion cubic feet does not mean it has been confirmed that all the gas can be extracted economically. The recoverable volume, development costs and commercial potential of each field are assessed separately.
Damianu also addressed the electricity interconnection element of the energy strategy. He said the planned Great Sea Interconnector project between Cyprus and Greece could help overcome the isolation of the electricity system and enable greater use of renewable energy.
Sources
- Bugün Kıbrıs — Kıbrıs’ın altı doğal gaz keşfinde 20 trilyon fit küp kaynak: İlk hedef 2028
This article was prepared by compiling information from the sources above and rewriting it with the help of artificial intelligence. Our editorial principles
