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Italian energy giant finds gas field in Egyptian desert

Company announces new gas find as country is predicted to become a gas exporter once again as early as next year

Italian energy giant finds gas field in Egyptian desert

Italian energy giant Eni has discovered a new gas field in Egypt amid hopes that the country is on its way to becoming a regional energy hub.

The company announced the new find, discovered in the country's Western Desert, on Thursday, and said it was studying the reserves, along with others found nearby, to increase the country's gas production.

A decade ago, Egypt was a net exporter of gas, but years of political instability and mismanagement left it to import gas for its rising population starting in 2012.

But with new discoveries in recent years - including Eni's Zohr "superfield" find in July 2015 - the country has been predicted to become an exporter once again as early as next year.

In late June, Egypt's petroleum minister, Tarek El-Molla, said that the country might stop importing liquefied natural gas by the end of this year.

Last Mod: 01 Eylül 2018, 09:28
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