business
Cypriot natural gas could start flowing from ExxonMobil's discoveries by 2033
By Menelaos Hadjicostis, Associated Press at KSAT 12 (ABC affiliate) — San Antonio
· 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 Terrell Hills News
For Terrell Hills residents, the development of Cypriot natural gas may seem like a distant concern, but its impact could be felt locally through the economic ripple effects on San Antonio's energy sector. As a major player in the global energy market, ExxonMobil's discoveries off Cyprus could influence the company's operations and investments in the San Antonio area. With ExxonMobil's significant presence in the region, any changes in the company's global strategy or resource allocation could have implications for local jobs, businesses, and economic growth. Furthermore, the city's proximity to major energy hubs and its own thriving energy industry make it a potential beneficiary of the emerging eastern Mediterranean energy hub concept, which could lead to new opportunities for trade, investment, and collaboration between San Antonio and European markets.
About this story
Original reporting by KSAT 12 (ABC affiliate) — San Antonio . Terrell Hills 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 affiliate) — San Antonio . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: June 30, 2026 ·
Source: KSAT 12 (ABC affiliate) — San Antonio ·
Reading time: 2 min
Get more Terrell Hills 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 KSAT 12 (ABC affiliate) — San Antonio and curated for Terrell Hills News readers.
Who reported this story? This story was reported by Menelaos Hadjicostis, Associated Press at KSAT 12 (ABC affiliate) — San Antonio. To learn more about how Terrell Hills News selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from Terrell Hills News, or browse our daily briefing and topic hubs .
← Back to all news
More business →
Today’s briefing
Subscribe to newsletter