Cyprus is about to develop its first-ever gas field.
Eni and TotalEnergies, two of Europe’s energy heavyweights, have taken the final investment decision on the Cronos gas project, which they say will come into production by 2028.
For Cyprus, a country with no history of hydrocarbon production, this is a milestone.
Despite having some of Europe's largest gas reserves, the island nation has relied on importing fuel from its Mediterranean neighbours for decades: Greece, Italy and Israel.
But with global energy supply chains experiencing such volatility in 2026, Cyprus appears finally ready to open its doors as an international exporter.
