Nicosia: Discussions on the development of the 'Cronos' gas field are ongoing and timelines have not changed, Government Spokesperson Konstantinos Letymbiotis said on Tuesday. Responding to a question during a press briefing at the Presidential Palace regarding the pending Final Investment Decision (FID) by the consortium for 'Cronos', which had been expected by the end of March but has not yet been taken, Letymbiotis said that 'the timelines have not changed; discussions are, of course, continuing.'
According to Cyprus News Agency, the goal is to reach a final outcome. Cyprus and Egypt signed on Monday a Framework Agreement on the development of gas field deposits in the Republic of Cyprus' exclusive economic zone (EEZ), including the 'Cronos' and 'Aphrodite' fields, during the EGYPES 2026 conference held in Cairo. Referring to the significance of the agreement, Government Spokesperson Konstantinos Letymbiotis described it as 'very important,' while also highlighting that agreements related to the final investment decision are also important and involve complex technical and legal issues.
'These discussions are ongoing, and the timelines announced and set have not changed,' he concluded.