Filenews 8 January 2026 - by Chrysanthos Manoli
Information from Fileleftheros states that Egypt, through the country's Minister of Oil, Karim Badawi, extended a helping hand and cooperation to Cyprus and the consortium of companies ENI and Total, for faster utilization of the natural gas reserve in the Kronos block.
Our information states that Mr. Badawi informed the Republic of Cyprus that the initial agreement for Saturn, which provided for its utilization by 20% in the Egyptian market (at lower prices than the sale in other markets) can be modified, so that the entire stock that will arrive via pipeline in Egypt can be channelled to a liquefaction terminal and sold to European or other markets.
The information of "F" insists that Egypt considers its strategic cooperation with Cyprus to be of great importance, not only for the Saturn reserve (with estimated reserves of 3 trillion cubic feet (tcf) of natural gas and with an accessible and exploitable amount of around 2 tcf) but also for the Aphrodite reserve, in addition to the other partnerships that are running between the two friendly countries.
Egypt's decision not to insist on channelling 20% of the Kronos reserve into its own market facilitates both Cyprus and the ENI – Total companies, as it allows the creation of better market conditions for approaching other buyers, as soon as possible.
Mr. Badawi, who was in Cyprus yesterday and met with President Christodoulides and Energy Minister Michalis Damianos, in the context of the events for Cyprus to assume the presidency of the Council of the EU, maintains close relations with both the Presidency and the Ministry of Energy of Cyprus, an indication of the importance that his country and President Sisi attach to the energy cooperation between the two countries.
Initially, it was reported that the start of commercial exploitation of the Saturn field through Egypt could take place in 2027. Newer information indicates that, following the new decision of the Egyptian government, it is possible to overcome problems that would cause a long delay, but the commercial exploitation of Saturn may begin in late 2027 or early 2028.
After yesterday's meeting with the Minister of Petroleum of Egypt, President Christodoulides stated that energy is a key issue on the Government's agenda, adding that today, Thursday, he will have a meeting with representatives of ENI.
It should be noted that Middle Eastern countries have expressed interest in participating in the exploration of parts of the Cypriot EEZ, either through the purchase of existing licenses or through the application for licenses if Cyprus proceeds with a new round of tender for the licensing of exploration in the Cypriot EEZ.
