ENI and Government Agreement on the Kronos Gas Field
October 26, 2026
The recent agreement between the Italian company ENI and the Cypriot government strengthens Cyprus's energy footprint. The construction of subsea infrastructure for the Kronos field is set to begin, with contracts potentially reaching up to $1.8 billion. The companies ENI and TotalEnergies plan to start production of Cypriot natural gas by 2028. This move is strategically important for the European Union to reduce its dependency on other countries. Recent geopolitical tensions have disrupted gas markets, increasing the relevance of Cypriot supply.