The energy minister of Cyprus has announced that natural gas from the Cronos undersea deposit off its southern coast will be supplied to European markets as early as March 2028. This development comes as the European Union seeks new sources of energy, with Russia's war in Ukraine and Middle East instability compelling Europe to diversify its energy supply. The project, a joint venture between TotalEnergies of France and Italy's Eni, will involve piping gas from Cronos to Egypt for processing at the Zohr natural gas deposit, followed by liquefaction and transportation to Europe. This is the first time gas from east Mediterranean deposits will be supplied to European markets. The agreement allows for about a fifth of the gas to be used to meet some of Egypt's domestic energy needs. Cronos is one of six natural gas deposits discovered in Cyprus' Exclusive Economic Zone, with two others, Glaucus and Pegasus, jointly holding an estimated 6.9 trillion cubic feet. Gas from these fields is expected to start flowing by 2033. Another field, Aphrodite, which holds an estimated 5.6 trillion cubic feet, is set for development in summer 2027, with a pipeline linking the deposit directly to Egyptian facilities to supply domestic energy needs. The Great Seas Interconnector project, an electricity cable connecting Europe's power grid with that of Cyprus and Israel, is also progressing, aiming to end energy isolation in the region and serve as a significant step towards the IMEC initiative—a new energy and trade route to the Gulf and India. However, the project faces delays due to cost concerns and red tape. The EU has already committed $760 million for the project, with additional funding being considered to offset the burden on Cypriot consumers.