Source: Brookings Institute
Author(s): Adel Abdel Ghafar
Original Link: https://www.brookings.edu/opinions/egypts-new-gas-discovery-opportunities-and-challenges/
Egypt’s New Gas Discovery: Opportunities and Challenges
After a tough year, the Egyptian government recently received some good news. Italy’s ENI announced that it has discovered the “largest ever” offshore natural gas field in the Mediterranean off the Egyptian coast. Dubbed a “supergiant” field, ENI suggested that the Zohr project would be able to meet Egypt’s own natural gas demands for decades to come.
This is welcome news for the government of Abdel-Fattah el-Sissi as it enters its second year and it is likely to resonate locally and regionally. Once the field comes online it will go a long way toward satisfying local demand, thus allowing Egypt to spend significantly less on energy. It would be prudent for the government to use these savings to improve people’s livelihoods and invest in infrastructure, health, and education…
Read more at Original Link.