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Alsharq Tribune- Al Otaify
Egypt, Cyprus, and Italian energy giant Eni signed a Host Government Agreement (HGA) in Cairo on Monday to develop and export gas from Cyprus' Cronos field to European markets via Egypt's infrastructure.
According to Eni's official website, President Abdel-Fattah El-Sisi and his Cypriot counterpart Nikos Christodoulides chaired the signing ceremony held during the opening of the Egypt Energy Show (EGYPES 2025).
This agreement marks a significant milestone in creating a gas hub in the Eastern Mediterranean, leveraging Egypt’s existing hydrocarbon infrastructure while positioning Cyprus as a gas producer and exporter, Eni further noted.
Additionally, it sets out a structured plan for the rapid development of the Cronos gas discovery off the coast of Cyprus. The gas will be sent to Egypt for processing at the existing Zohr field facilities before being liquefied at the Damietta LNG plant for export to European markets.
Discovered in 2022 and later appraised in 2024, the Cronos gas field in Block 6 of Cyprus' Exclusive Economic Zone (EEZ) holds over three trillion cubic feet of gas.
Eni, active in Cyprus since 2013, operates Block 6 with a 50 percent stake, along with Block 8, and holds interests in Blocks 7 and 11.
The agreement was signed by Karim Badawi, minister of petroleum and mineral resources; George Papanastasiou, Cypriot minister of energy, commerce and industry; and Eni's CEO Claudio Descalzi.
Meanwhile, Eni's CEO Descalzi stated that the agreement facilitates the swift commercialization of Cyprus' gas, enhancing energy security and supply competitiveness. He emphasized that the project takes advantage of Egypt’s existing infrastructure, including its export facilities, which are crucial for regional energy developments.
Descalzi also highlighted that Egypt and Cyprus are reaffirming their positions in the growing Eastern Mediterranean energy hub, which is expected to play a more prominent role in the global gas market in the future.
Earlier on Monday, President El-Sisi inaugurated the eighth edition of EGYPES 2025 conference and exhibition, running from 17 to 19 February in Cairo. El-Sisi met with his Cypriot counterpart to discuss ways to enhance cooperation in natural gas production, liquefaction, and transportation, which would benefit both countries and support the European market
The Egyptian president also met with Eni's CEO, who reaffirmed Eni's commitment to its strategic partnership with Egypt. The CEO recognized the country's key role as a regional energy hub with significant potential for gas exploration and liquefied gas production.
