Petroleum and Mineral Resources Minister Karim Badawi said on Tuesday, July 28, 2026, that a final investment decision by a consortium of Italy's Eni and France's TotalEnergies to develop Cyprus' Cronos gas field and connect it to Egyptian infrastructure marks a major milestone in Egyptian-Cypriot energy cooperation and reinforces Egypt's role as a regional gas hub.
Badawi said the decision reflects the confidence of major international energy companies in Egypt's gas infrastructure and demonstrates the success of the country's strategy of maximizing the use of its integrated, world-class gas facilities to develop eastern Mediterranean gas resources.
He said the Cronos project represents an advanced model of regional integration, with gas produced from the Cypriot offshore field to be transported to Egypt for processing through the Zohr field's facilities before being liquefied at the Damietta LNG plant for re-export to European markets.
Badawi said the project would create added value for all parties while strengthening regional and international energy security. He said the final investment decision was the culmination of close cooperation between Egypt, Cyprus and their international energy partners, supported by Egyptian President Abdel Fattah El Sisi and Cypriot President Nikos Christodoulides.
He described it as the first project to directly link Cypriot gas discoveries to Egyptian infrastructure, paving the way for further development of eastern Mediterranean gas resources. According to a ministry statement, selecting Egypt to receive, process and liquefy Cypriot gas underscores the country's advanced infrastructure and operational capabilities, making it the partner best positioned to support the development of regional gas reserves while maximizing the use of national assets and generating sustainable economic returns.
He added that the ministry would continue to implement its strategy to attract further investment, accelerate the development of new discoveries and maximize the value of Egypt's energy infrastructure to strengthen the country's competitiveness as a regional energy hub.
The ministry said the final investment decision follows the completion of agreements governing the use of Egypt's infrastructure to process and liquefy Cypriot gas. Production is expected to begin in 2028, supporting the continued operation of Egypt's gas facilities and reinforcing the country's role as a key hub for receiving, processing, liquefying and exporting eastern Mediterranean gas.
The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital