Cyprus drew one big step closer this week to producing its first offshore gas, a decade and a half after an initial discovery that put the Mediterranean island nation on the global hydrocarbons map. Operator Eni and partner TotalEnergies on Tuesday announced a final investment decision (FID) to develop their 3 trillion cubic foot Cronos discovery, with first gas expected in 2028. The FID is also good news for Egypt, which is now positioned to realize its ambition of becoming a hub for regional gas transit. Eni and TotalEnergies say they will be able to market volumes from Cronos equivalent to around 2.8 million tons per year of LNG in a 50-50 split. Cronos was discovered in 2022, making it a relative newcomer compared to the play-opening Aphrodite find, first drilled in 2011 and now eyeing a possible FID next year.