The clause providing for the transfer of 20% of natural gas production from the ‘Kronos’ field to Egypt is being amended, government sources said, citing relevant briefing received from Egyptian Minister of Petroleum Karim Badawi.

Yesterday, the President of the Republic held a meeting at the Presidential Palace with the Egyptian Minister of Petroleum, Karim Badawi, who was in Nicosia representing President Abdel Fattah El-Sisi at the opening ceremony of Cyprus’ Presidency of the Council of the European Union.

Regarding the Kronos gas field, the same sources said today that this development is expected to facilitate the process of transporting Cypriot natural gas to Egypt.

Asked about Block 12 and whether existing issues would be resolved, the sources expressed optimism that the problems will soon be overcome, allowing production to proceed from the ‘Aphrodite’ gas field.

It is recalled that an Agreement and a Memorandum of Understanding concerning the Exclusive Economic Zone (EEZ) of the Republic of Cyprus, described as milestones for the exploitation of offshore gas reserves and the further development of cooperation between Cyprus and Egypt, were signed in February 2025 in Cairo, in the presence of the Presidents of both countries.

As announced by the Presidency at the time, a Host Government Agreement was signed for the development of hydrocarbons in Block 6 of Cyprus’ EEZ. The agreement sets out the framework under which the licensed consortium (ENI/TOTAL) and Egypt as the host country will cooperate on the commercialisation of natural gas discoveries within the block, namely Kronos, Zeus and Calypso.

The Kronos gas field is at the final stage of development, with the aim of sending the first quantities of Cypriot natural gas to Europe, President of the Republic Nikos Christodoulides said today. He noted that the relevant works must be completed by the end of March, ahead of his visit to Egypt, following an invitation by the Egyptian President to participate in the Energy Forum in Cairo.

Speaking during a meeting today at the Presidential Palace with ENI executive Guido Brusco, the President said:

“It is very important that we are at the final stage of development of Kronos. This is important for us, for you, for Egypt and for Europe. I look forward to our discussion so that we can finalise the remaining work as soon as possible. Yesterday, I received a letter from President Sisi inviting me to participate in the Energy Forum in Cairo from 30 March to 1 April. I have also invited the President of the European Commission to attend.”

He added that the work must be completed by 30 March, noting that the government team is ready and that discussions have already taken place with the Egyptian Minister of Petroleum.

“For us, this will be the first development from our EEZ blocks. It is very important for the country, for our economy and for our people,” the President said.

He stressed the importance of maintaining the necessary commitment to complete the project and to send the first Cypriot natural gas to Europe.

From his side, Mr Brusco said, among other things, that earlier today he had very productive discussions with Cyprus’ Minister of Energy, expressing the company’s strong commitment to Cyprus. He noted that the consortium has so far invested $1.2 billion in the country.

He added that the agreement between Cyprus, Egypt, ENI and TOTAL paves the way for the completion of the project.