Eni, Total Sign $1.8 Billion Cyprus Gas Contracts to Develop Kronos Field

Eni signed contracts worth up to $1.8 billion on Monday for infrastructure to develop Cyprus's Kronos natural gas field, the country's first commercial gas development, with partner TotalEnergies. The field, holding more than 3 trillion cubic feet of gas, is slated to begin production in the first half of 2028. Gas will be piped to Egypt for processing via infrastructure linked to the Zohr field, then fed into the Damietta LNG plant for export to international markets, chiefly Europe. Output is forecast to reach up to 500 million cubic feet per day once stabilized. Eni, active in Cyprus since 2013, awarded subsea and pipeline work to Baker Hughes, TechnipFMC, Saipem, McDermott and others. Cypriot President Nikos Christodoulides called the deal a vote of confidence in the country's energy prospects. Chevron is separately advancing the Aphrodite field with NewMed and Shell.