00:00Contracts have now been officially signed between Cyprus and ENI for the construction of the infrastructure needed to develop the
00:05Kronos natural gas field, located within Cyprus' exclusive economic zone.
00:10France's Total Energies is also partnering with ENI, with the two companies set to jointly develop the field.
00:16The project aims to bring Cypriot natural gas to market via Egypt, with exports to international markets, including Europe, expected
00:23to begin once production starts, currently scheduled for 2028.
00:27The importance of Kronos extends well beyond its estimated resources.
00:33As our country's first hydrocarbon development project, it represents the beginning of a new chapter in an energy journey, significantly
00:40advancing our efforts to convert offshore discoveries into concrete, economic and strategic value.
00:46Kronos' development unlocks new European gas developed by European companies and destined to the European market.
00:57I think these three elements are to be considered in our reflection of today.
01:04And the objective is to ensure secure, affordable, but also low-emission energy to our countries and our communities.
01:14The agreements mark a significant milestone in Cyprus' efforts to strengthen its position on the eastern Mediterranean energy map,
01:21while also contributing to the diversification of Europe's natural gas supply sources.
01:26The
01:26Kronos' development of a new
01:26Kronos' development of a new
