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Final Investment Decision for 'Cronos' Expected in March

Published February 17, 2026, 14:19
Final Investment Decision for 'Cronos' Expected in March

The final investment decision for the management of the 'Cronos' field is expected in March, with the aim of directing the first quantity of natural gas to Egypt via 'Zohr' by the first half of 2028 for processing and sale to the European market. Intensive negotiations with Israel are also underway for the 'Isai' agreement, with the expectation of completion within 1-2 months. Regarding 'Aphrodite', the final detailed design (FEED) is expected to be completed by the end of the year, with the final investment decision (FID) expected in 2027. The consortium with Chevron is rapidly progressing with the construction of a production unit at the field and a subsea pipeline to Egypt, with the aim of promoting natural gas to the local Egyptian market. Due to the small size of the Cypriot market, sending natural gas to Cyprus for domestic consumption is not considered attractive by companies. The Government is considering the possibility of Cyprus becoming a liquefaction hub, but cannot commit at this time.