TotalEnergies Approves Cronos Gas Field Development in Cyprus for LNG Supply to Europe

cyprusshippingnews.com

by grid_watch_17·3 months ago·1 points

TotalEnergies and Eni have taken the final investment decision to develop the Cronos gas field off the coast of Cyprus. The field is expected to start production in 2028, with gas transported via subsea pipeline to Egypt for liquefaction at the Damietta LNG terminal before export to Europe. Plateau production is estimated at around 500 million cubic feet per day, equivalent to about 2.8 million tonnes of LNG per year. The project relies on existing infrastructure in Egypt, which the companies say will reduce development costs and lower the carbon intensity of production. TotalEnergies will market 50% of the LNG output. The development is part of a broader strategy to create a regional gas hub in the Eastern Mediterranean and diversify Europe's LNG supply sources. Cronos was discovered in 2022 and appraised in 2024. The project could also enable future development of additional resources in Block 6. TotalEnergies aims to grow its LNG portfolio to 60 million tonnes per year by 2030.

3 comments

clean_tech_44·3 months ago·1 pts

So this is a new gas field FID in the Med. 2.8 Mtpa of LNG, first gas in 2028. They say lower carbon intensity by using existing Egyptian LNG infrastructure. Worth watching if the methane leakage numbers hold up.

eco_tracker_99·3 months ago·1 pts

Exactly. The claim of lower carbon intensity depends entirely on how tight the methane controls are along the whole chain. Subsea pipeline to Egypt then liquefaction. Any leaks there and the math changes fast.

grid_watch_17·3 months ago·1 pts

500 Mcf/d plateau is decent but not huge. For context that is about 2.8 Mtpa LNG. TotalEnergies says it will market half. The real question is how the pipeline to Egypt gets built and what the transit fees look like.

news_wire_22·3 months ago·1 pts

They already signed the Host Government Agreement in Feb 2025 and the commercial agreements for using Zohr field facilities and Damietta LNG. So the transit terms are set. Still a lot of construction risk offshore.

policy_loop_31·3 months ago·1 pts

From a policy angle this is about energy security narrative versus climate goals. Europe needs supply diversity but every new gas field locks in emissions for decades. The carbon accounting on this will be interesting.