Gas deposits off Cyprus are an opportunity for the EU, president says

NICOSIA, Cyprus (AP) — Natural gas deposits off the southern coastline of Cyprus are an opportunity for the European Union to bolster its own energy security by diversifying its supply, the island nation's president said Thursday.President Nikos Christodoulides told The Associated Press in an exclusive statement that the first of a number of natural gas fields discovered off Cyprus, dubbed Cronos, is expected to start production in the first half of 2028.“Cyprus is part of the energy equation, with Europe benefiting with added diversification and with the Union’s autonomy being anchored. This is the first step in a path that is bright,” Christodoulides said.Europe is looking for alternative sources of energy after turning its back on Russian oil and gas following Moscow's full-fledged invasion of Ukraine in 2022, while consumers are being lashed by rocketing fuel prices compounded by the Iran war.Italian energy company Eni last month signed development contracts with eight main contrac