Cyprus gas to flow to Europe via Egypt and Greece by 2028, bolstering energy security
"Cyprus plans to begin natural gas exports to Europe by early 2028 via Egypt and Greece, utilizing the offshore Kronos discovery. Under an initiative advanced with Greek and Egyptian energy ministers at the EMGF in Athens, gas will be piped to Egypt for liquefaction and shipped to Greece to supply Europe’s Vertical Corridor, bolstering regional energy security."
EU Directive 2019/790 Article 15 Attribution • Verified Energy Document
Cyprus is poised to begin exporting natural gas from its offshore fields to Europe by the first half of 2028. This gas will be transported to Greece via Egypt, where it will undergo liquefaction, before being injected into the Greek system for delivery through the Vertical Corridor. This development was a key discussion point at the East Mediterranean Gas Forum (EMGF) conference held in Athens.
Greek Environment and Energy Minister Stavros Papastavrou, Cyprus Energy, Commerce and Industry Minister Michalis Damianos, and Egyptian Petroleum and Mineral Resources Minister Karim Badawi deliberated on the initiative during the EMGF meeting. The plan aims to forge a vital link between Eastern Mediterranean gas fields and Europe's Vertical Gas Corridor. Officials emphasized that this framework will adhere strictly to international law and trade regulations, fostering an environment free from coercion and inviting participation from major Western energy corporations.
The proposed export route holds significant symbolic and strategic value for Europe, as Cypriot gas entering the continent via Greece is expected to bolster supply security and enhance Europe's energy self-sufficiency. At the heart of this project is the Kronos gas field, located within Cyprus's exclusive economic zone. A subsea pipeline, anticipated to be completed within two years, will transport gas from Kronos to Egypt's Zohr field. Subsequently, the natural gas will be processed at the Damietta liquefaction facility in Egypt, after which it will be shipped as liquefied natural gas (LNG) to Greece. Minister Damianos confirmed that gas flows from the Kronos field are projected to commence in the first half of 2028.
Minister Papastavrou underscored the mutually beneficial nature of this collaborative effort, stating that the EMGF demonstrates the region's proactive stance in shaping its energy future with backing from the United States and the European Commission, thereby mitigating regional challenges and threats.
Greece's energy project landscape is also expanding. Andreas Siamisis, chief executive of Helleniq Energy, provided updates on the company’s hydrocarbon exploration projects in the Ionian Sea and south of Crete. Drilling of a research well in the Ionian Sea is slated to begin in spring 2027, with seismic surveys south of Crete commencing in the upcoming months. Siamisis also mentioned plans to extend the Thessaloniki–Skopje petroleum-products supply pipeline northward, emphasizing the need for the European Union to finalize its green transition strategy to ensure the timely progression of long-term energy investments.
Mathios Rigas, chief executive of Energean, highlighted the company’s significant role in producing 40% of Israel's natural gas and its strong operational presence in Egypt, where new investments totaling $150 million are planned. Rigas further detailed the planned exploration well in Block 2 of the Ionian Sea, a joint venture between Energean, ExxonMobil, and Helleniq Energy. He asserted that a successful drilling outcome could render Greece self-sufficient in natural gas and position it as an exporter.
Meanwhile, the United States and Chevron emphasized the importance of regional cooperation. Joshua Volz, special envoy for the U.S. Energy Department, underscored the crucial role of governments in establishing effective regulatory frameworks and harmonizing rules to attract and facilitate investment. Andrew Deighan, Chevron’s director of exploration for the Middle East and North Africa, outlined Chevron's extensive footprint across the region, including operations in Egypt, Israel, Cyprus, Greece, Libya, Malta, Syria, and Turkey. Deighan concluded by stressing the necessity for robust cooperation between energy companies and regional governments as Eastern Mediterranean gas development progresses.