Commercial Viability of Glaucus and Pegasus Deposits
April 4, 2026
The ExxonMobil – QatarEnergy consortium announced that the deposits 'Glaucus' and 'Pegasus' are now commercializable. Energy Minister Michalis Damianos stated that this is a significant step towards their exploitation. The deposits, totaling approximately 7 trillion cubic feet, are set to proceed to the next phase of development. The estimated timeline for their exploitation is around 2033. This development strengthens Cyprus’s energy portfolio.