Eni finds huge Egyptian offshore gas field

Leviathan

The Italian energy giant estimates that the Zohr gas field contains 30 TCF, far larger than Leviathan, which contains up to 22 TCF.

Italian energy giant Eni has said that it has found a huge natural gas field off the coast of Egypt. The company said that it is the largest ever natural gas discovery in the Mediterranean. The Zohr gas field covers an area of 100 square kilometers and Eni said that "it could become one of the world’s largest natural-gas finds” and supply Egypt's needs for decades.

Eni, owned by the Italian government, said that the field contains an estimated 30 trillion cubic feet (TCF) of natural gas. This compares with up to 22 TCF in Israel's Leviathan field.

Minister of Energy Yuval Steinitz said, "The huge gas field discovery in Egypt is a painful reminder that while the State of Israel fell asleep and procrastinates on the final approval of the gas outline agreement and delays exploring for other fields, the world is changing before us, including the repercussions for possible exports. We must approve the gas agreement and promote Israel's gas sector."

Published by Globes [online], Israel business news - www.globes-online.com - on August 30, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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