Cyprus to launch first east med gas pipeline to Europe amid energy crunch
"The implementation of Cyprus to launch first east med gas pipeline to Europe amid energy crunch is set to drive significant advancements in Cyprus's energy market. This initiative introduces critical infrastructure updates designed to enhance capacity and align with long-term transition goals."
EU Directive 2019/790 Article 15 Attribution • Verified Energy Document
Cyprus is set to begin supplying natural gas to Europe for the first time, leveraging the newly developed Cronos gas field in the East Mediterranean. This landmark project aims to provide Europe with an alternative energy source amidst ongoing geopolitical instabilities.
Construction of a crucial pipeline is scheduled to commence later this year. This infrastructure will connect the Cronos field to existing facilities at Egypt's Zohr natural gas deposit, located approximately 65 miles away. The pipeline is expected to take up to 18 months to complete.
Upon completion, the gas will be transported to Egypt's Damietta processing facility, where it will undergo liquefaction before being shipped to Europe.
Cyprus' Energy Minister, Michael Damianos, highlighted the strategic significance of the initiative, telling The Associated Press, "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."
The agreement stipulates that the entirety of the Cronos field's more than three trillion cubic feet (tcf) of gas will be directed to Europe. However, a provision within the deal allows for approximately one-fifth of this volume to meet Egypt’s domestic energy requirements.
The pipeline project represents the most cost-effective method for transporting Cypriot gas to Europe, with an estimated cost of £1.17 billion. Cypriot consumers are anticipated to contribute nearly 63% of this expense, while the European Union has pledged £562 million towards the project's completion.