In a significant move towards energy independence, Cyprus' Energy Minister Michael Damianos announced that European consumers can anticipate natural gas from an undersea deposit off the coast of Cyprus as early as March 2028. This development comes as Europe seeks alternative sources due to geopolitical instability in Russia and the Middle East. The gas will be sourced from the Cronos natural gas field, with French energy giant TotalEnergies and Italian company Eni spearheading its development. The project involves a pipeline connecting Cronos to Egypt's Zohr natural gas deposit, followed by liquefaction at Damietta for transportation to Europe. This initiative marks the first time gas from east Mediterranean deposits will be supplied to European markets, offering an economically viable solution due to the proximity of existing infrastructure. While the agreement stipulates that all over 3 trillion cubic feet (tcf) of gas in Cronos will be allocated for Europe, a fifth can be used to meet some of Egypt's domestic energy needs. Moreover, other promising gas deposits, such as Glaucus and Pegasus, are expected to start supplying gas by 2033. The Aphrodite field, with an estimated 5.6 tcf, is also under development, with a decision on its development expected in summer 2027. Additionally, the Great Seas Interconnector project, aimed at connecting Europe's power grid with Cyprus and Israel, has secured backing from French investment company Meridiam. This ambitious project, once completed, would not only end energy isolation for both countries but also serve as a key building block for the IMEC initiative, a new energy and trade route to the Gulf and India being pursued by the European Union. However, the project is currently facing delays due to cost-related red tape.