Cyprus Gas Hub Set to Launch by 2033 | San Antonio News

ExxonMobil and QatarEnergy are set to unlock massive natural gas reserves off Cyprus by 2033, tapping into the Glaucus and Pegasus fields—holding seven trillion cubic feet—with plans to pipe gas to Egypt for liquefaction and export, positioning Cyprus as a major European energy gateway. After confirming commercial viability, the companies opted for the Egypt pipeline route over costlier alternatives, leveraging existing Cyprus-Egypt agreements. This move is part of Cyprus’s long-term energy strategy, launched after 2011 discoveries, with ExxonMobil also eyeing expansion in other Cypriot offshore zones. Drilling at Pegasus resumes this year to gather critical data, backed by strong government-industry collaboration. Meanwhile, other firms hold licenses in Cypriot waters, with some deposits potentially ready for export as early as 2027 or 2028—fueling a race to establish Cyprus as a regional energy powerhouse. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/571727a1a44608c6