TotalEnergies and ENI Sign an Agreement With Cyprus and Egypt for the Export of Cyprus Block 6 Gas Through Egypt
TotalEnergies and ENI have signed a Host Government Agreement (HGA) with Egypt and Cyprus for the development of Block 6 gas resources. The agreement, signed during the Egypt Energy Show (EGYPES), focuses on developing the Cronos gas field, discovered in 2022 and appraised in February 2024.
The HGA establishes a framework for processing Cronos gas in Egypt's Zohr facilities and liquefying it at the Damietta LNG plant for export to European markets. Following this agreement, Block 6 partners (TotalEnergies 50%, ENI 50% operator) will proceed with the Cronos Development and Production Plan in collaboration with Cyprus authorities.
TotalEnergies maintains additional interests in Cyprus, including Block 11 (50%, operator), Block 7 (50%, operator), and Block 8 (40%).
TotalEnergies e ENI hanno firmato un Accordo con il Governo Ospitante (HGA) con Egitto e Cipro per lo sviluppo delle risorse di gas del Blocco 6. L'accordo, firmato durante l'Egypt Energy Show (EGYPES), si concentra sullo sviluppo del giacimento di gas Cronos, scoperto nel 2022 e valutato a febbraio 2024.
L'HGA stabilisce un quadro per il trattamento del gas Cronos nelle strutture Zohr in Egitto e per la sua liquefazione presso l'impianto LNG di Damietta per l'esportazione nei mercati europei. A seguito di questo accordo, i partner del Blocco 6 (TotalEnergies 50%, ENI 50% operatore) procederanno con il Piano di Sviluppo e Produzione di Cronos in collaborazione con le autorità cipriote.
TotalEnergies mantiene ulteriori interessi a Cipro, inclusi il Blocco 11 (50%, operatore), il Blocco 7 (50%, operatore) e il Blocco 8 (40%).
TotalEnergies y ENI han firmado un Acuerdo de Gobierno Anfitrión (HGA) con Egipto y Chipre para el desarrollo de los recursos de gas del Bloque 6. El acuerdo, firmado durante el Egypt Energy Show (EGYPES), se centra en el desarrollo del campo de gas Cronos, descubierto en 2022 y evaluado en febrero de 2024.
El HGA establece un marco para el procesamiento del gas Cronos en las instalaciones de Zohr en Egipto y su licuefacción en la planta de LNG de Damietta para su exportación a los mercados europeos. Tras este acuerdo, los socios del Bloque 6 (TotalEnergies 50%, ENI 50% operador) procederán con el Plan de Desarrollo y Producción de Cronos en colaboración con las autoridades chipriotas.
TotalEnergies mantiene intereses adicionales en Chipre, incluidos el Bloque 11 (50%, operador), el Bloque 7 (50%, operador) y el Bloque 8 (40%).
TotalEnergies와 ENI는 이집트와 키프로스와 함께 블록 6의 가스 자원 개발을 위한 호스트 정부 협약(HGA)을 체결했습니다. 이 협약은 2022년에 발견된 크로노스 가스전의 개발에 중점을 두고 있으며, 2024년 2월에 평가되었습니다.
HGA는 이집트의 조르 시설에서 크로노스 가스를 처리하고, 다미에타 LNG 플랜트에서 액화하여 유럽 시장으로 수출하기 위한 프레임워크를 설정합니다. 이 협약에 따라 블록 6의 파트너들(TotalEnergies 50%, ENI 50% 운영자)은 키프로스 당국과 협력하여 크로노스 개발 및 생산 계획을 진행할 것입니다.
TotalEnergies는 키프로스 내에서 추가적인 이해관계를 유지하고 있으며, 블록 11(50%, 운영자), 블록 7(50%, 운영자) 및 블록 8(40%)을 포함합니다.
TotalEnergies et ENI ont signé un Accord de Gouvernement Hôte (HGA) avec l'Égypte et Chypre pour le développement des ressources gazières du Bloc 6. L'accord, signé lors de l'Egypt Energy Show (EGYPES), se concentre sur le développement du champ gazier Cronos, découvert en 2022 et évalué en février 2024.
L'HGA établit un cadre pour le traitement du gaz Cronos dans les installations Zohr en Égypte et sa liquéfaction à l'usine de GNL de Damiette pour l'exportation vers les marchés européens. Suite à cet accord, les partenaires du Bloc 6 (TotalEnergies 50%, ENI 50% opérateur) procéderont au Plan de Développement et de Production de Cronos en collaboration avec les autorités chypriotes.
TotalEnergies maintient des intérêts supplémentaires à Chypre, y compris le Bloc 11 (50%, opérateur), le Bloc 7 (50%, opérateur) et le Bloc 8 (40%).
TotalEnergies und ENI haben eine Vereinbarung mit der ägyptischen und der zypriotischen Regierung (HGA) zur Entwicklung der Gasressourcen im Block 6 unterzeichnet. Die Vereinbarung, die während der Egypt Energy Show (EGYPES) unterzeichnet wurde, konzentriert sich auf die Entwicklung des Cronos-Gasfeldes, das 2022 entdeckt und im Februar 2024 bewertet wurde.
Die HGA legt einen Rahmen für die Verarbeitung von Cronos-Gas in den Zohr-Anlagen Ägyptens und dessen Verflüssigung im LNG-Werk Damietta für den Export in europäische Märkte fest. Nach dieser Vereinbarung werden die Partner des Blocks 6 (TotalEnergies 50%, ENI 50% Betreiber) mit dem Entwicklungs- und Produktionsplan für Cronos in Zusammenarbeit mit den zypriotischen Behörden fortfahren.
TotalEnergies hat zusätzliche Interessen in Zypern, einschließlich Block 11 (50%, Betreiber), Block 7 (50%, Betreiber) und Block 8 (40%).
- New export route established for Cyprus gas through Egypt's LNG facilities
- Strategic positioning to supply European energy markets
- Successful appraisal of Cronos gas field in February 2024
- Leveraging existing infrastructure (Zohr facilities and Damietta LNG plant) reducing development costs
- None.
Insights
This landmark agreement represents a transformative development in Eastern Mediterranean energy infrastructure, with significant implications for both regional gas monetization and European energy security. The strategic utilization of Egypt's existing Zohr facilities and Damietta LNG plant infrastructure presents a cost-effective fast-track solution for commercializing Cyprus's offshore gas resources, potentially reducing development costs by 30-40% compared to new infrastructure development.
The timing is particularly strategic given Europe's accelerated efforts to diversify gas supply sources. By leveraging Egypt's established LNG export capabilities, this agreement creates a new supply corridor that could begin delivering gas to European markets significantly faster than alternative greenfield developments. The Cronos field's successful appraisal in February 2024 suggests meaningful production potential, though specific volumes remain undisclosed.
For TotalEnergies, this agreement strengthens its position in the Eastern Mediterranean, where it now holds interests in four Cyprus blocks. The company's expanding regional footprint, combined with access to Egypt's LNG infrastructure, creates a robust platform for future discoveries and developments. The agreement's structure, utilizing existing infrastructure, significantly de-risks the project by:
- Reducing capital expenditure requirements
- Accelerating time to market
- Leveraging established operational expertise
- Creating flexible export options through Egypt's LNG facilities
This development model could serve as a template for future regional gas discoveries, potentially catalyzing further exploration activity in the Eastern Mediterranean. The collaboration between Cyprus, Egypt, and major energy companies demonstrates the region's emerging role as a significant gas supply hub for European markets.
Signed during the Egypt Energy Show (EGYPES) with the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Karim Badawi, and the Minister of Energy, Commerce and Industry of the
The agreement provides a framework allowing the Cronos gas to be processed in the existing Zohr facilities offshore
Following the signature of this agreement, the Block 6 partners will now proceed with the Cronos Development and Production Plan, in close collaboration with
“TotalEnergies is very pleased to be part of the opening of an export route through
In
About TotalEnergies
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FAQ
What is the significance of the TTE Host Government Agreement with Cyprus and Egypt?
What is TTE's ownership stake in Cyprus Block 6?
When was the Cronos gas field discovered and appraised by TTE?
What other blocks does TTE operate in Cyprus?
How will TTE process and export gas from the Cronos field?
