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Cairo and Italian firm Eni have sky-high hopes for the latter’s recent 30 tcf Zohr discovery. It is not unrealistic that Egypt could resume gas exports once Zohr comes online, MEES number-crunching suggests. Whether this is a wise long-term option is another question.
Much has been made of the super-giant 30 tcf Zohr gas discovery in Egypt’s offshore Mediterranean announced last week by Italian firm Eni, both in terms of the implications it would have for the wider region as well as what it could mean for the country itself (MEES, 4 September).
Witnessing a growing gas shortfall, as output has declined from ageing fields, and fully aware that crippling power cuts indirectly caused the downfall of his two predecessors, President Abdel Fatah al-Sisi and his government have sought to plug the gas gap with LNG imports. (CONTINUED - 1537 WORDS)