Rich findings of natural gas have been found in Cronos 2, located in block 6 of Cyprus’ Exclusive Economic Zone (EEZ), Energy Minister George Papanastasiou announced on Saturday.
According to the state broadcaster, the minister cautioned patience until the company formally makes an announcement.
He nonetheless said that by 2026 to 2027, Cyprus should have natural gas from the findings.
Cronos 2 is connected to the Cronos 1 reservoir. Situated around 160 kilometres southwest of Cyprus, block 6 is operated by ENI with a 50 per cent participation interest, while Total is a partner with the remaining 50 per cent.
It is the fourth natural gas reservoir to be discovered in block 6, after Glafkos, Zeus and Calypso.
Italian energy company Eni had described the Calypso reservoir as a “promising discovery”, which “shares characteristics” with the 3,765 square kilometre Egyptian Zohr gas field.
Papanastasiou said that despite the fact that natural gas has a geopolitical aspect, this does not mean that Cyprus should not make small and steady steps to achieve its goals.