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Cyprus targets exporting natural gas from Cronos to Europe by 2027, with investment decisions from an Italian-French consortium expected by year’s end.

Gas will be liquefied at an Egyptian processing plant before shipping to European markets, leveraging existing infrastructure near Egypt’s massive Zohr deposit.

The project positions Cyprus as an alternative energy corridor for Europe amid efforts to reduce reliance on Russian energy supplies.

NICOSIA, Cyprus — Some of the estimated 20 trillion cubic feet of natural gas discovered in waters off Cyprus could reach European markets as soon as 2027, the Cypriot president said Wednesday, as Europe looks for more ways to wean itself o

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