Cyprus Seals $1.8 Bn Deal to Develop First Commercial Gas Project

Cyprus signed contracts worth $1.8 billion with Italian energy provider Eni on Monday to develop the Mediterranean island nation's first commercial gas project, with production slated for 2028 on the project in partnership with France's TotalEnergies. European countries have stepped up efforts to use domestic energy resources with the Ukraine and Iran wars roiling global energy markets and supply in recent years.


