Politis

Energy Ministry: Final Investment Decision for 'Cronus' in March - Consultations with Israelis Today and Tomorrow

Published February 17, 2026, 14:19
Energy Ministry: Final Investment Decision for 'Cronus' in March - Consultations with Israelis Today and Tomorrow

The final investment decision for the 'Cronus' project is expected in March, with the aim of starting the transfer of natural gas via 'Zohr' to Egypt by the first half of 2028 for processing and sale to the European market. The Minister of Energy, Commerce and Industry, Michalis Damianou, informed the Parliamentary Committee on Energy about the project's progress. At the same time, intensive negotiations are underway with Israelis for the 'Isai' agreement, with an 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 Chevron consortium prefers to send the natural gas to Egypt due to the small Cypriot market and the large needs of Egypt.