The ‘Kronos’ natural gas field: The signatures do not answer the crucial question regarding the benefits for Cyprus

 

26 October 2026, AKEL C.C. Press Office, Nicosia

The signing of the construction contracts for the ‘Kronos’ field represents yet another step towards the development of Cyprus’s natural gas. However, it does not answer the crucial questions regarding the real benefit to Cyprus.

The government highlights the geopolitical significance of the project, without explaining what the country and our people stand to gain.

How much will the Republic of Cyprus receive, and when?

What concessions have been made to the companies, what financial risks has the state assumed, and how will future revenues be affected?

Above all, how will our natural resources be utilised to ensure the country’s energy security and reduce the exorbitant cost of electricity?

AKEL has repeatedly called for full institutional transparency. The government, however, continues to hide behind confidentiality clauses, shying away from meaningful accountability.

Success is not measured by signatures and announcements, but by the real benefits for Cyprus and society.