Economy · Cyprus
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The natural gas fields "Glaucus" and "Pegasus," located in Cyprus' exclusive economic zone, have been deemed commercially viable following a declaration signed by ExxonMobil and QatarEnergy. This significant milestone allows the consortium to develop these gas fields further, transitioning their status from exploration to development. Cypriot Energy Minister Michalis Damianos characterized the signing of the declaration as a crucial step forward for the project.
President Nikos Christodoulides also emphasized the importance of the declaration, highlighting it as a strategic milestone for Cyprus. ExxonMobil has indicated plans to begin production at these fields as early as 2033. The declaration marks a notable advancement for Cyprus in utilizing its natural gas resources, which remain a key point in the country's energy strategy.
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1 July
Cyprus' Energy Minister highlighted the importance of ExxonMobil's statement on the development of the 'Glaucus' and 'Pegasus' fields.
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