Export Options
Comparison
The export question that dominated a decade of Cyprus gas debate has largely been settled: Egypt is now the confirmed primary route. Aphrodite gas is contracted to Egypt under a 15-year offtake agreement signed in April 2026, and Cronos gas will flow via a tie-back to the Zohr facilities for liquefaction at Damietta LNG. Alternative routes remain on paper but have not advanced.
Quick Comparison
| Option | CAPEX | Capacity | Time to Gas | Status |
|---|---|---|---|---|
| Egypt Route Pipeline / tie-back to Egyptian LNG | ~$2B (reported, Aphrodite line) | ~800 MMcf/d (Aphrodite design) | 3-4 years post-FID | Confirmed — primary route |
| Cyprus FLNG Floating LNG | $5-7B | 5-7 mtpa | 5-6 years post-FID | Not advanced |
| EastMed Pipeline Direct to Europe | $6-7B | 10-20 Bcm/year | 8-10 years | Dormant — no FID |
| Domestic Use Local market | $0.3-0.5B | 1-2 Bcm/year | 2-3 years | Small complement |
Updated July 2026 · Sources: MECI, operator announcements, press reports
Route-by-Route Detail
Egypt Route
Pipeline / tie-back to Egyptian LNG
Advantages
- Confirmed by binding agreements
- Uses existing Egyptian LNG plants
- Fastest path to revenue
- Access to Egyptian market plus re-export to Europe
Challenges
- Dependent on Egyptian infrastructure and demand
- Transit and processing fees
- Egypt is itself short of gas — competing domestic pull
Cyprus FLNG
Floating LNG
Advantages
- Sovereign control
- Flexible
- Scalable
- Direct LNG sales
Challenges
- Higher cost
- Longer timeline
- Requires more gas to justify
- No project has selected it
EastMed Pipeline
Direct to Europe
Advantages
- Direct European access
- Joint with Israel and Greece
- Retains EU PCI history
Challenges
- Very high cost
- No financing secured
- Stalled — not formally cancelled
- Turkey tensions
Domestic Use
Local market
Advantages
- Energy security
- Lower emissions
- No export risk
Challenges
- Small market
- Low volumes
- Cannot monetize large reserves
Confirmed Development Pathway
With export agreements now in place, the development sequence looks like this:
Cronos → Zohr / Damietta LNG (first gas 2028)
Host Government Agreement signed February 2025, commercial deals signed October 2025, development plan approved May 2026. Gas piped ~90 km to Egypt's Zohr facilities, then liquefied at Damietta LNG for export to Europe at ~5 bcm/yr. FID imminent.
Aphrodite → Port Said, Egypt (first gas ~2030-31)
Egypt initialed a 15-year term sheet in April 2026 for 100% of Aphrodite output (~700 mmcf/d) via a new ~$2 bn subsea pipeline to Port Said, feeding the Egyptian grid and LNG plants with potential re-export to Europe. FID targeted late 2026-2027.
Glaucus + Pegasus → concept under study (production ~2033)
Declared commercial 30 June 2026 with 7-9 tcf combined. Leading export concept is a subsea pipeline into Egypt's existing LNG plants, with FLNG or onshore LNG as alternatives. Pegasus appraisal from late 2026; FID anticipated around 2029.