Snam SpA Expects Egypt to Resume Gas Exports

Snam SpA Expects Egypt to Resume Gas Exports

Europe’s biggest natural gas infrastructure company, Snam SpA, announced that Egypt is likely to resume natural gas exports thanks to the major discoveries that were made off its shores in the recent years, according to World Oil.

Bloomberg reported that the CEO of the Milan-based Snam, Marco Alvera, said that the discoveries are of great importance to North Africa and to Egypt, the biggest Arab nation in terms of population, where demand for gas has been continuously increasing in order to generate electricity. He added that “Zohr is a game changer [as] it allows Egypt to fulfill all its needs, which are great and significant.”

Bloomberg informed that Egypt intends to keep all the production from the gas fields, which is estimated to contain more than 850bcm of natural gas, according to the Encyclopedia Britannica.

The super-giant Zohr field was discovered in August 2015 by Eni, and the Italian energy company started its drilling operations there in late December 2015. The offshore natural gas field is supposed to be the largest ever field found in the Mediterranean Sea.

Further, Eni and BP made another significant find this year in the Egyptian Nile Delta.



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