Late 2026
IN PROGRESS
Pegasus appraisal drilling
The drill bit that sizes the Block 10 hub between its 7 and 9 tcf bookends — and with it, the case for standalone Cyprus LNG.
Cyprus Gas
Milestones Tracker
Every decision, well and start-up date that moves Cyprus toward first gas — tracked live, with what each one means. Updated as events land; last reviewed 2026-08-27.
Late 2026
Next Milestone
Pegasus appraisal drilling
2028
First Gas Target
Cronos via Egypt
9
Milestones Ahead
to 2033
5
Completed in 2026
decisive year so far
The Road to First Gas
Cronos · Block 6 Aphrodite · Block 12 Glaucus–Pegasus · Block 10
Pegasus appraisal
LATE 2026
Cronos FID
2027
FIRST CYPRIOT GAS
2028
Block 10 FID
~2029
Aphrodite first gas
~2030–31
Block 10 production
~2033
20262027202820292030203120322033
Diamonds mark investment decisions; circles mark drilling and start-ups. Dates are operator and government targets, not guarantees.
Next Up
Late 2026 – 2027
UPCOMING
Aphrodite final investment decision
FEED has run since December 2025 and the Egyptian term sheet removed the last commercial blocker. FID commits ~$4 bn and starts the clock on 2030–31 first gas.
2027
UPCOMING
Cronos FID and construction start
The development plan was approved in May 2026; long-lead subsea orders would confirm the 2028 first-gas target and make Cronos Cyprus's first producing field.
Watch
UPCOMING
Fourth licensing round decision
Three blocks are open, three relinquished, and the province is de-risked by six discoveries — the conditions for a new round keep accumulating at the Ministry of Energy.
2028
UPCOMING
First Cypriot gas — Cronos start-up
Ends the 17-year gap between discovery (2011) and production. Cronos gas flows to the Zohr facilities and Damietta LNG for export.
~2029
UPCOMING
Block 10 hub FID
The investment decision on the largest resource concentration in Cypriot waters — and the moment the export concept (LNG-led) gets fixed.
H2 2029
UPCOMING REGIONAL
Leviathan Phase 1B start-up
Israel's expansion to ~21 bcm/yr fills Egyptian liquefaction capacity — the same infrastructure Cypriot gas will queue for. Watch how much room is left.
~2030–31
UPCOMING
Aphrodite first gas
Cyprus's first discovery becomes its second producing system, exporting ~700 mmcf/d to Port Said under the 15-year EGAS arrangement.
~2033
UPCOMING
Block 10 production
By the early 2030s Cyprus could have three producing systems — all exporting via Egypt unless Block 10 anchors standalone LNG.
Recently Completed
30 Jun 2026
Block 10 declared commercial — Cyprus, ExxonMobil and QatarEnergy sign the Declaration of Commercial Discovery for Glaucus and Pegasus (est. 7–9 tcf), moving them into development. Glaucus–Pegasus hub →
19 May 2026
Cronos development plan approved — Cabinet clears the subsea tie-back to Zohr and liquefaction at Damietta LNG; first gas targeted for 2028. Cronos field →
Apr 2026
Egypt initials Aphrodite offtake — 15-year EGAS term sheet for the field's full ~700 mmcf/d output via a new ~$2 bn pipeline to Port Said. Aphrodite field →
Jan 2026
Ishai unitization resolved — Cyprus–Israel in-principle deal clears Aphrodite's last boundary issue via one-time compensation. Aphrodite field →
Jan 2026
Leviathan Phase 1B FID — The $2.36 bn expansion next door locks a decade of Israeli exports to Egypt around the LNG hubs Cyprus will also use. Leviathan profile → REGIONAL
Updated July 2026 · Sources: Cyprus MECI, operator disclosures
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