CYPRadar 🇨🇾⚡ Cyprus, ExxonMobil and QatarEnergy sign commerciality declaration for Glaucus and Pegasus gas fields
The Republic of Cyprus, ExxonMobil, and QatarEnergy have signed a commerciality declaration for the Glaucus and Pegasus natural gas fields, marking a strategic milestone for Cyprus's Exclusive Economic Zone (EEZ). The declaration follows a meeting between President Nikos Christodoulides and representatives from both energy companies, underscoring confidence in the potential of Cyprus's energy resources.
ExxonMobil anticipates the final investment decision for these fields will be made by 2029, with production starting in 2033. The companies also highlighted ongoing exploration plans in Blocks 4 and 10A, including seismic data reprocessing and future drilling activities. Cypriot Energy Minister Michalis Damianou emphasized the move strengthens Cyprus's position as a regional energy hub and supports the development of the Eastern Mediterranean as an emerging energy corridor.
President Christodoulides called the day a new phase for Cyprus’s gas resource development, expressing optimism about future announcements and collaboration. The partnership reflects Cyprus’s growing role as a reliable energy partner and aims to enhance energy security and economic opportunities for the island and the wider region.
No news yet
CYPRadar is a state-of-the-art, AI-powered Cyprus news aggregator that automatically crawls, filters, and translates local updates in real time. By continuously scanning a wide range of trusted Cypriot media outlets, blogs, and official RSS feeds, the platform identifies original stories and uses advanced language models to filter out duplicate coverage. The service then generates concise, objective summaries, ensuring that readers get a quick and clear understanding of every significant event without information overload.
The primary mission of CYPRadar is to provide comprehensive, multi-language coverage of Cyprus news to keep both residents and international visitors well-informed. The platform covers key events across all major cities and districts, including Nicosia, Limassol, Larnaca, Paphos, and Famagusta. By offering all updates simultaneously in five languages — English, Russian, Greek, Ukrainian, and Turkish — CYPRadar bridges communication gaps and ensures that everyone has equal access to critical local information, from policy changes to community events.
Find essential updates on Cyprus's power grid, electricity supply, and energy sector. Stay informed about scheduled power cuts, grid maintenance, electricity price fluctuations, and the transition to renewable energy sources.