00:00Contracts have now been officially signed between Cyprus and ENI for the construction
00:03of the infrastructure needed to develop the Kronos natural gas field,
00:07located within Cyprus's exclusive economic zone. France's Total Energies is also partnering with
00:13ENI, with the two companies set to jointly develop the field. The project aims to bring Cypriot
00:17natural gas to market via Egypt, with exports to international markets, including Europe,
00:23expected to begin once production starts, currently scheduled for 2028.
00:27The importance of Kronos extends well beyond its estimated resources. As our country's
00:33first hydrocarbon development project, it represents the beginning of a new chapter
00:38in an energy journey, significantly advancing our efforts to convert offshore discoveries
00:44into concrete economic and strategic value. Kronos development unlocks new European gas,
00:51developed by European companies and destined to the European market. I think these three
00:58elements are to be considered in our reflection of today. And the objective is to ensure secure,
01:08affordable, but also low emission energy to our countries and our companies.
01:14The agreements mark a significant milestone in Cyprus's efforts to strengthen its position on the
01:19eastern Mediterranean energy map, while also contributing to the diversification of Europe's natural gas
01:25supply sources.
01:26So what I think is, do you guys, do you, e.g., do you.
