Cyprus' Energy Minister Michael Damianos said in an exclusive interview with The Associated Press that European consumers can expect natural gas from an undersea deposit off Cyprus as early as March 2028. This was reported by Qazaqyia.kz citing Associated Press.
Damianos said the East Mediterranean is fast becoming an alternative energy source for European nations as Russia's war in Ukraine and upheaval in the Middle East compel the continent to seek out new sources.
According to the minister, partners TotalEnergies of France and Italy's Eni made a final decision last month to proceed with developing the Cronos natural gas field off Cyprus' southern coast. The project will be the first time gas from east Mediterranean deposits is supplied to European markets.
"It's important for Europe at this time because of the war in Ukraine, because of this situation in the Middle East, that Cyprus is going to be an alternative source of gas," Damianos told The Associated Press in an exclusive interview Friday.
According to the Eni-TotalEnergies consortium timetable, work on a pipeline from Cronos to existing infrastructure at Egypt's massive Zohr natural gas deposit 105 kilometers (65 miles) away will begin later this year and take up to 18 months to complete.
Once that's done, the gas will be conveyed to the Damietta processing facility on Egypt's northern shore where it will be liquefied for transport by ship to Europe.
Big oil companies continue to explore in the region.