The Government is moving rapidly to the next phase of its energy strategy for the development of the “Aphrodite” and “Cronos” fields, aiming for a final investment decision in 2026, the President of the Republic said during his address at the 13th Energy Symposium.

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He noted that, regarding the Cronos field, the goal is to produce the first natural gas by 2027 and transfer it to Egypt’s Damietta terminal, from where it will be channelled to Europe.

President Christodoulides also revealed that major energy companies have expressed interest in acquiring plots within the Cyprus Exclusive Economic Zone, adding that decisions on this matter will be taken soon.

He further announced that next week, on 26 November, he will travel to Lebanon exclusively for discussions related to the energy planning of the Republic of Cyprus, stressing that the country is now entering the stage of utilising its energy resources.

The President added that Cyprus’ energy plans can be linked with wider European strategy—an issue of concern for the European Union, as Europe continues to seek reduced dependence on third countries.

As a result, the President noted, the Eastern Mediterranean has the potential to serve as an alternative corridor to Europe.