Gas from Cyprus for Europe. There was a specific date

Cyprus could start extracting gas for export as early as 2028, said Cypriot Energy Minister Michael Damianos in an interview with Reuters published on Friday.

Referring to the exploitation of the Cronos field discovered in 2022 off the coast of Cyprus, the minister announced: “I hope that we will have gas by 2028.”

“I think that the crisis in the Middle East shows that in general we should exploit our deposits, especially those located outside the Persian Gulf region. We cannot be dependent on a specific area,” Damianos said.

He noted: “Deposits in the Eastern Mediterranean that are suitable for exploitation should be a priority, not only for Cyprus, but for the entire EU.”

Cyprus has so far discovered natural gas deposits containing 420-510 billion cubic meters of the raw material. ANDHowever, their exploitation starts very slowly because they are located in several places, which requires separate investment decisions.

The Cronos field contains 85 billion cubic meters of gas, so it could supply Cyprus for decades or support exports to regional markets. It is to be operated using existing infrastructure in Egypt. The gas would be processed there, then liquefied and transported to European markets in liquid form.

Damianos said that the possibility of building a liquefied gas export terminal in Cyprus had not been ruled out, but this depended on the discovery of larger deposits. (PAP)

mw/ap/