business
Cypriot natural gas could start flowing from ExxonMobil's discoveries by 2033
By Menelaos Hadjicostis, Associated Press at KPRC 2 / Click2Houston (NBC)
· 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 Piney Point
For Piney Point Village residents, the potential of Cypriot natural gas flowing by 2033 may seem like a distant development, but it has implications for the local energy landscape. As a major hub for the oil and gas industry, Houston stands to benefit from the growth of a new European energy hub. The involvement of ExxonMobil, a significant player in the Houston area, underscores the city's continued influence in global energy markets. Furthermore, the project's focus on liquefying natural gas for export could lead to increased activity at Houston's ship channels and ports, potentially boosting local economic activity. As the project moves forward, Piney Point Village residents can expect to see ripple effects in the local job market and economy, particularly if ExxonMobil's expansion plans lead to increased hiring and investment in the region.
About this story
Original reporting by KPRC 2 / Click2Houston (NBC) . The Piney Point 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 KPRC 2 / Click2Houston (NBC) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: June 30, 2026 ·
Source: KPRC 2 / Click2Houston (NBC) ·
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 KPRC 2 / Click2Houston (NBC) and curated for The Piney Point readers.
Who reported this story? This story was reported by Menelaos Hadjicostis, Associated Press at KPRC 2 / Click2Houston (NBC). To learn more about how The Piney Point selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Piney Point, or browse our daily briefing and topic hubs .
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