Cyprus is poised to start exporting natural gas by 2028, potentially fortifying Europe’s efforts to diversify energy sources amid escalating Middle East conflicts. Energy Minister Michael Damianos indicated that the geopolitical unrest underscores the importance of developing regional reserves outside the Gulf areas.
Concerns over energy supply routes, particularly through the vital Strait of Hormuz, have intensified following U.S. and Israeli actions targeting Iran. Minister Damianos highlighted the strategic advantage of Eastern Mediterranean reserves, like Cyprus’s Cronos field, for supporting EU-wide energy security.
The Cronos field contains significant gas reserves sufficient for long-term Cyprus supply or European exports via Egypt’s infrastructure. Cyprus is also exploring the potential of a local LNG export terminal. Concurrently, key energy projects, such as the Greece–Cyprus–Israel electricity interconnector, aim to strengthen the island’s energy network.