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 Tomball News
The potential for Cypriot natural gas to flow by 2033 has implications for the Houston area, home to ExxonMobil's headquarters and a hub for the energy industry. As the company explores options for conveying the gas to market, its decision to likely partner with existing facilities in Egypt could have a ripple effect on local businesses that provide services and equipment for liquefied natural gas exports. The development of the Glaucus and Pegasus deposits also underscores the role of Houston-based companies in shaping the global energy landscape. With ExxonMobil considering expansion into other areas of Cyprus' exclusive economic zone, the city's energy sector may see increased activity and investment in the coming years. As the energy industry continues to evolve, Tomball residents can expect to see the effects of global developments like this one in their own community, from job creation to economic growth.
About this story
Original reporting by KPRC 2 / Click2Houston (NBC) . Tomball 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 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
Get more Tomball News stories like this
Free weekly briefing covering business and other local news. Curated by our editorial team. No spam.
By subscribing you agree to our privacy policy . Unsubscribe anytime.
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 Tomball News readers.
Who reported this story? This story was reported by Menelaos Hadjicostis, Associated Press at KPRC 2 / Click2Houston (NBC). To learn more about how Tomball News selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from Tomball News, or browse our daily briefing and topic hubs .
← Back to all news
More business →
Today’s briefing
Subscribe to newsletter