Damianos said partners TotalEnergies of France and Italy’s Eni made a final decision last month to proceed with developing the Cronos natural gas field off Cyprus’ southern coast. Cronos is one of six natural gas deposits discovered so far inside Cyprus’ Exclusive Economic Zone off its southern coastline. Another gas field — the first to be found off Cyprus some 15 years ago — is Aphrodite, which holds an estimated 5.6 tcf. “It’s a very important project for Europe because it connects Cyprus which is isolated to the European grid. The post Eastern Mediterranean Sea is fast becoming an alternative energy source for Europe amid wars in Ukraine and Mideast, Cyprus says appeared first on Fortune.