Cyprus plans to export natural gas from the Cronos deposit by 2027, operated by a consortium of Eni and TotalEnergies, potentially via a Damietta, Egypt processing plant for liquefaction and shipment to Europe.

Cyprus is navigating maritime border complexities with Lebanon that affect exploration, and the president will discuss energy plans during an upcoming visit to Lebanon.

Cyprus reinforces its active role in the 3+1 energy framework with Greece and the United States, signaling a commitment to regional energy solutions rather than remaining on the sidelines.

Interconnection projects are being updated to align with Europe and regional partners as part of a broader energy integration plan to ensure energy adequacy and reduce electricity costs for households and businesses.

The government describes its approach as a phased, realistic plan to achieve electricity sufficiency and lower costs through energy planning and regional collaboration, calling it a high-stakes but achievable bet.

Cyprus is pursuing a green energy transition, targeting 23% renewable energy in the electricity mix, with €114 million allocated for transmission, distribution upgrades, storage projects, and energy communities, starting with the Tillyria pilot as a national policy model by 2026.

The energy plan includes measures such as tax reform to spur green investments, a Just Transition Fund of €114 million for network upgrades, a grants scheme for energy storage, and the development of Tillyria as the first energy community with expansion planned from 2026.

Cyprus aims to advance its green transition with higher renewables (target 23%), while protecting vulnerable households, and dedicates €114 million to upgrades, storage, and the Tillyria pilot to guide national policy from 2026.

The broader aim is to align Eastern Mediterranean energy developments with EU planning and reduce dependence on external suppliers, amid ongoing EU energy independence challenges.

Renewable energy accounts for 23% of Cyprus’ current energy mix, a level deemed unsatisfactory by leadership, with ongoing efforts to boost penetration and complete the Solar Panels for All scheme (8,500 applications and 4,000 installations to date).

President Christodoulides said Cronos could supply Europe as part of a broader eastern Mediterranean energy security strategy, with a final project decision expected next year.