On Monday Italian energy group Eni signed contracts worth up to $1.8 billion (€1.61 billion) to build the infrastructure needed to develop the Kronos natural gas field inside Cyprus's Exclusive Economic Zone (EEZ). Eni's partner is French group Total, as the two companies will work together to mine the area.
The project aims to commercialise Cypriot natural gas via Egypt, with exports to international markets and Europe expected to begin once production starts, which is currently scheduled for 2028.
