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Huge new gas find by ENI could offer Europe alternative supply

Huge new gas find by ENI could offer Europe alternative supply

August 31
15:47 2015

Italian energy group Eni has discovered the largest known gas field in the Mediterranean off the Egyptian coast, it announced on Sunday.

The Italian energy giant said that the ‘Zohr’ field could potentially hold 30 trillion cubic feet of gas in an area of approximately 100 square miles.

The company said that the find could help meet Eygpt’s gas needs for many decades, thus lessening its dependence on Russian gas import.

“Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world’s largest natural-gas finds,” it said, adding that it had full concession rights to the area.

The find follows other significant gas discoveries in the Mediterranean in recent years, including offshore neighbouring Israel. This is expected to have a major impact on the region’s economy and potentially offer Europe new supply options.

Reuters

 

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