(AGENPARL) – lun 17 febbraio 2025 Eni signs an agreement with Egypt and Cyprus for the
development and export of Cyprus Block 6 gas through Egypt’s
existing infrastructure
Cairo (Egypt), 17 February 2025 – The Minister of Petroleum and Mineral Resources of the
Arab Republic of Egypt Karim Badawi, the Minister of Energy, Commerce and Industry of
the Republic of Cyprus George Papanastasiou, the Chief Executive Officer of Eni Claudio
Descalzi, as well as TotalEnergies, signed in Cairo today the Host Government Agreement
for the exploitation of Cyprus’ Cronos Block 6 resources.
The President of the Arab Republic of Egypt Abdel Fattah El-Sisi and the President of the
Republic of Cyprus Nikos Christodoulides presided the signing, which took place during the
opening ceremony of EGYPES, the premier energy event in Egypt.
This agreement is a concrete milestone to establish a gas hub in the Eastern Mediterranean
capitalizing Egypt’s existing hydrocarbon infrastructure and positioning Cyprus as a gas
producer and exporter. It outlines a comprehensive framework enabling a rapid
development of the Cronos gas discovery offshore Cyprus: the gas will be transported and
processed in existing Zohr facilities to be then liquefied in the Damietta LNG plant for export
to European markets.
Eni CEO, Claudio Descalzi, commented: “This agreement paves the way to bring Cyprus’
gas to the market in a timely fashion, contributing to energy security and competitiveness of
energy supply. This project leverages Egypt’s existing infrastructure, including export
facilities, which are a key enabler for developments in the Region. Egypt and Cyprus reaffirm
their roles in the emerging energy hub of the Eastern Mediterranean, which is set to play an
increasing role in the global gas supply in the near future”.
Discovered in 2022 and subsequently appraised in 2024, Cronos gas in place is estimated
at more than 3 trillion cubic feet (TCF). Additionally, Block 6 encompasses further potential
resources under exploration and appraisal, including the Zeus discovery made in 2022.
Eni has been present in Cyprus since 2013. Block 6 is operated by Eni holding a 50%
interest. Eni also operates Block 8 and has participating interests in Blocks 7 and 11.
Eni has been present in Egypt since 1954. The company is currently the country’s leading
producer with an equity production of approximately 280,000 barrels of oil equivalent per
day in 2024. Eni operates in Egypt through its wholly owned subsidiary IEOC and has a 50%
share in Damietta LNG Plant.
Eni Company Contacts:
Website: http://www.eni.com