Sigma Live

Cyprus: Final Investment Decision for 'Cronos' Expected in March

Published February 17, 2026, 12:11
Cyprus: Final Investment Decision for 'Cronos' Expected in March

The final investment decision for the management of the 'Cronos' reservoir is expected in March, according to the Minister of Energy, Commerce and Industry, Michalis Damianou. The goal is to transfer natural gas, via 'Zohr', to Egypt by the first half of 2028 for processing and sale to the European market. Intensive negotiations with Israel are also underway to reach an agreement regarding the 'Isai' reservoir, with the expectation of completion within the next 1-2 months. Regarding the 'Aphrodite' reservoir, 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 managing 'Aphrodite' intends to promote natural gas to the Egyptian market, as it is considered more beneficial due to the small size of the Cypriot market.