Eni’s giant Egyptian discovery opens new East Mediterranean gas play

A major gas find by Italian major Eni in the Egyptian deep offshore could have profound consequences for a number of industries. Rising demand for gas-fired electricity in the last decade has all but submerged Egypt’s gas export ambitions, with imports of liquefied natural gas (LNG) from Qatar, Russia and other suppliers expected to meet shortfalls in domestic fuel supply for years to come. According to a range of industry sources who spoke to African Energy, so substantial is the Zohr field – initially estimated at 30tcf – that not only could imports become unnecessary, but export LNG projects could eventually come back on the agenda.