Cyprus Gas
Milestones Tracker

Three developments are racing toward first gas, and every one of them turns on a handful of dated decisions. This page tracks those decisions — what is next, what it unlocks, and what has already landed.

Last reviewed 2026-08-28 Sources: Cyprus MECI, operator disclosures

Next milestone Block 10

Late 2026 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.

Pegasus field →

Then

Late 2026 – 2027 Aphrodite final investment decision

2027 Cronos FID and construction start

The Road to First Gas

Three developments on one timeline. Bars span the years between a decision and the gas that follows it. Every dated milestone across the island's three developments, in order.

investment decision drilling & start-up announced window

Cronos BLOCK 6

Aphrodite BLOCK 12

Glaucus & Pegasus BLOCK 10

Regional ISRAEL

TODAY FIRST CYPRIOT GAS · 2028

FID & construction start 2027

Final investment decision LATE 2026 – 2027

First gas to Port Said ~2030–31

Pegasus appraisal LATE 2026 · NEXT

Hub FID ~2029

Production ~2033

Leviathan 1B start-up H2 2029

20262027202820292030203120322033

TODAY 26 SEPT 2026

2026

Pegasus appraisal Block 10 · Late 2026 · next up

Final investment decision Block 12 · Late 2026 – 2027

2027

FID & construction start Block 6 · 2027

2028

First Cypriot gas Block 6 · 2028

2029

Hub FID Block 10 · ~2029

Leviathan 1B start-up Israel · H2 2029

2030

First gas to Port Said Block 12 · ~2030–31

2031–32

nothing scheduled

2033

Production Block 10 · ~2033

Faded dots left of the dashed line are milestones already cleared. Diamonds mark investment decisions, circles drilling and start-ups, squares a window an operator has named but not narrowed. Dates are operator and government targets, not guarantees; where an operator has only named a window, the window is drawn as a window.

Three developments, three clocks

Every dated milestone belongs to one of the island's three development systems. Read each row left to right: where it stands today, and what has to happen next.

Cronos

BLOCK 6 Eni · TotalEnergies · 3.1 tcf GIIP

2028 first gas target

Cronos development plan approved 19 May 2026

FID & construction start 2027 · NEXT

First Cypriot gas 2028

Cronos development plan approved 19 May 2026

FID & construction start 2027 · NEXT

First Cypriot gas 2028

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.

Cronos →

Aphrodite

BLOCK 12 Chevron · Shell · NewMed · ~2.9–3.7 tcf

2030–31 first gas target

Ishai unitization resolved Jan 2026

Egypt initials Aphrodite offtake Apr 2026

Final investment decision Late 2026 – 2027 · NEXT

First gas to Port Said ~2030–31

Ishai unitization resolved Jan 2026

Egypt initials Aphrodite offtake Apr 2026

Final investment decision Late 2026 – 2027 · NEXT

First gas to Port Said ~2030–31

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.

Aphrodite →

Glaucus & Pegasus

BLOCK 10 ExxonMobil · QatarEnergy · est. 7–9 tcf

~2033 production target

Block 10 declared commercial 30 Jun 2026

Pegasus appraisal Late 2026 · NEXT

Hub FID ~2029

Production ~2033

Block 10 declared commercial 30 Jun 2026

Pegasus appraisal Late 2026 · NEXT

Hub FID ~2029

Production ~2033

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.

Glaucus & Pegasus →

Undated, but watched

no announced window

Fourth licensing round

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. The announcement does not.

Licensing framework →

Regional context

events outside Cypriot waters

Jan 2026 Leviathan Phase 1B FID

H2 2029 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.

Leviathan profile →