A new natural gas discovery off Cyprus' southern coast that is estimated to contain around 2.5 trillion cubic feet of the hydrocarbon bolsters Europe’s efforts to secure alternative energy sources, the Cypriot energy ministry said Monday, as a supply crisis triggered by Russia’s invasion of Ukraine continues to trouble the continent.
The ministry said in a statement that the discovery by partners Eni of Italy and France’s Total was made at the Cronos-1 well 160 kilometers (100 miles) off the coast in 2,287 meters (7,500 feet) of water inside Cyprus' exclusive economic zone and is the second deposit that the Eni-Total consortium has discovered there.
