A final investment decision on the “Cronos” gas block in Cyprus’ exclusive economic zone is expected in June, Energy Minister Michalis Damianou said.
He said that agreements approved by the Cabinet in May are due to be signed this month. Damianou said the ENI–TotalEnergies consortium has already made some payments, reinforcing expectations that the final decision is now only a matter of time.
On the “Aphrodite” field, the minister said preliminary agreements for natural gas sales have been signed, with final contracts expected in the coming months.
Damianou will travel to Washington next week for talks under the Cyprus–Greece–Israel cooperation framework with the United States, focusing on Eastern Mediterranean energy issues.
Negotiations also continue on the “Isai” field. Sources say the two sides are close to agreement on the commercial terms, though a final deal is not expected immediately.