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flag ExxonMobil confirms 8–9 trillion cubic feet of gas in Cyprus’ Pegasus field, boosting regional energy potential.

flag ExxonMobil confirms the Pegasus field off Cyprus holds 8 to 9 trillion cubic feet of natural gas, boosting the island’s potential as a regional energy hub. flag Combined with the Glafkos field and other discoveries in Block 6, the finds strengthen the Eastern Mediterranean’s role in gas production and export. flag While past drilling in other areas yielded non-commercial results, success in Block 10 suggests viable reserves. flag Development options include subsea tiebacks to liquefaction plants in Egypt, potentially supplying Europe and Asia. flag The Cypriot government, working with ExxonMobil, aims to accelerate extraction to lower energy costs, with the company committed to outlining next steps and timelines.

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