business
Cypriot natural gas could start flowing from ExxonMobil's discoveries by 2033
By Menelaos Hadjicostis, Associated Press at KSAT 12 (ABC affiliate)
· June 30, 2026
· 2 min read
Natural gas could start flowing by 2033 out of two undersea deposits discovered by ExxonMobil off Cyprus, a senior executive with the company said Tuesday, helping to turn the east Mediterranean island nation into a new European energy hub.The largest U.S. oil company and its consortium partner, ...
Key takeaway The deposits — dubbed Glaucus and Pegasus — are located in Block 10 of Cyprus’ exclusive economic zone (EEZ) and are estimated to hold together roughly 7 trillion cubic feet of gas.
Why this matters in The San Antonio
As San Antonio continues to grow and diversify its economy, the development of new energy sources in the global market has significant implications for the city's business landscape. The potential for Cypriot natural gas to start flowing by 2033 could lead to increased investment and trade opportunities for San Antonio companies, particularly those in the energy sector. With its strategic location and existing infrastructure, San Antonio could play a key role in the transportation and processing of liquefied natural gas, creating new jobs and stimulating economic growth. Furthermore, the city's own energy needs could be met by this new source, providing a reliable and potentially cost-effective alternative to current suppliers. As the global energy landscape continues to evolve, San Antonio's business leaders and policymakers will be watching developments in the eastern Mediterranean closely, looking for ways to capitalize on new opportunities and ensure the city's continued prosperity.
About this story
Original reporting by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: June 30, 2026 ·
Source: KSAT 12 (ABC affiliate) ·
Reading time: 2 min
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Frequently asked about this story
What is this story about? Natural gas could start flowing by 2033 out of two undersea deposits discovered by ExxonMobil off Cyprus, a senior executive with the company said Tuesday, helping to turn the east Mediterranean island nation into a new European energy hub.The largest U.S. oil company and its consortium partner, ...
When was this published? This article was first published on June 30, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Menelaos Hadjicostis, Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The San Antonio, or browse our daily briefing and topic hubs .
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