TotalEnergies and ENI Secure Key Agreement for Cyprus Offshore Gas Development

TotalEnergies and ENI Secure Key Agreement for Cyprus Offshore Gas Development

(IN BRIEF) In a major move for energy cooperation, TotalEnergies and ENI have signed a Host Government Agreement (HGA) with Egypt and Cyprus, paving the way for the development of the Cronos gas field in Cyprus offshore Block 6. The agreement will enable the processing of gas at Egypt’s Zohr facilities and its liquefaction at the Damietta LNG plant, ensuring gas exports to Europe. The deal marks a significant step toward enhancing European energy security through Cyprus’s gas resources.

(PRESS RELEASE) PARIS, 18-Feb-2025 — /EuropaWire/ — In a significant development for the energy sector, TotalEnergies and ENI have finalized a Host Government Agreement (HGA) with Egypt and Cyprus, aimed at advancing the development of the Cronos gas field in Cyprus offshore Block 6. The deal, which took place during the Egypt Energy Show (EGYPES), was attended by prominent leaders, including Egyptian President Abdel Fattah El-Sisi and Cypriot President Níkos Christodoulídis, alongside key energy ministers from both countries.

The agreement was signed by Karim Badawi, Minister of Petroleum and Mineral Resources of Egypt, and George Papanastasiou, Minister of Energy, Commerce, and Industry of Cyprus. It serves as a critical step in the development of the Cronos field, which was discovered in 2022 and successfully appraised earlier this year in February 2024.

Under the terms of the agreement, gas from the Cronos field will be processed at the Zohr facilities offshore Egypt, with liquefaction taking place at the Damietta LNG plant in Egypt. This infrastructure will enable the export of natural gas to European markets, contributing to the diversification of energy supplies and enhancing Europe’s energy security.

Following the signing of the HGA, TotalEnergies, ENI, and their partners in Block 6 will proceed with the Cronos Development and Production Plan. This next phase will be carried out in close coordination with the Cypriot authorities to ensure a smooth and efficient development process.

Julien Pouget, Senior Vice President for Middle East & North Africa, Exploration & Production at TotalEnergies, expressed enthusiasm about the partnership, stating, “We are excited to be involved in establishing an export route for Cyprus gas through Egypt. This Host Government Agreement marks a key milestone in leveraging Egypt’s LNG infrastructure to enhance Europe’s energy security by adding more LNG volumes to the market.”

TotalEnergies also holds interests in other blocks off Cyprus, including Block 11 (50%, operator), Block 7 (50%, operator), and Block 8 (40%).

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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SOURCE: TotalEnergies