A new gas discovery off Cyprus could speed up exploitation of untapped resources and help secure supplies to Europe, Cypriot Energy Minister Natasa Pilides said on Tuesday. Italian giant Eni and France's TotalEnergies announced on Monday a "significant gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus". Cyprus's energy ministry said preliminary estimates indicated the reservoir holds about 2.5 trillion cubic feet (70 billion cubic metres) of natural gas. With Russia threatening to cut off gas supplies to the European Union, Nicosia was in talks with Brussels to become part of the bloc's energy plan to reduce reliance on Moscow, Pilides told state radio.
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