Eni’s discovery of a giant 30 tcf gas field in the Egyptian Mediterranean should return energy independence to MENA’s most populous country. But it severely dents neighboring Cyprus and Israel’s gas development hopes.

Eni this week announced the discovery of the ‘Zohr’ field which “could hold a potential 30 tcf of lean gas in place” on the Shorouk Offshore block, bordering Cyprus’ exclusive economic zone (EEZ). (CONTINUED - 2237 WORDS)