business
Cypriot natural gas could start flowing from ExxonMobil's discoveries by 2033
By Menelaos Hadjicostis, Associated Press at KSAT 12 (ABC) - San Antonio News
· 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 Alamo Heights News
For Alamo Heights residents, the development of Cypriot natural gas reserves may seem like a distant issue, but it has implications for the local energy landscape. As a major player in the global energy market, ExxonMobil's discoveries off the coast of Cyprus could potentially impact the company's operations in the San Antonio area. With ExxonMobil having a significant presence in the region, any shifts in the company's global strategy could have a ripple effect on local jobs and economic activity. Furthermore, as the US continues to navigate its energy policy, the emergence of new global energy hubs like Cyprus could influence domestic energy production and prices, ultimately affecting consumers in Alamo Heights and beyond. As the project moves forward, it will be worth watching how ExxonMobil's plans for Cypriot natural gas reserves unfold and what potential consequences they may have for the local community.
About this story
Original reporting by KSAT 12 (ABC) - San Antonio News . Alamo Heights News 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) - San Antonio News . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: June 30, 2026 ·
Source: KSAT 12 (ABC) - San Antonio News ·
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) - San Antonio News and curated for Alamo Heights News readers.
Who reported this story? This story was reported by Menelaos Hadjicostis, Associated Press at KSAT 12 (ABC) - San Antonio News. To learn more about how Alamo Heights News selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from Alamo Heights News, or browse our daily briefing and topic hubs .
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