Photo Credit: Nati Shohat / Flash 90
A natural gas drill rig in the Mediterranean.

The Italian Eni energy group announced Sunday it has discovered one of the world’s largest natural gas fields off the Egyptian coast.

If the estimates are not exaggerated and if the “Zohr” field comes online in the future, it would mean that Egypt would be self-sufficient in its gas needs for decades. It also would put an end to any idea that Egypt will buy gas from Israel, which in recent years has enjoyed discoveries of gas fields that have been called the largest discoveries in the world in the past decade.

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The find in Egypt dwarfs the field in Israel.

Eni stated:

According to the well and geophysical data available, the field could hold a potential of 30 trillion cubic feet of lean gas in place

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.

 

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16 COMMENTS

  1. This is hardly good news for the people.
    The majority of people will not enjoy the profits.
    But, gas prices may drop, leading to reduced annual profit to Qatar (if I am not mistaken).
    Energy prices may also be reduced.
    Pollution may also diminish, in the long run.

  2. =
    Egypt will fastly develop, market & sell its gas overseas. Egypt is hungry to foreign currency, as it could help pull Egypt out from its economic crisis & develop its economy for its 80 millions residents.
    Egypt President El-Sissi will not hesitate to shoot down any protestors
    that would dare claim “egypt gas for egyptians” .

    Compare such Egypt gas policy to that of the Israel left burying
    Israel offshore gas fields with all type of so called regulations, bureaucracy,
    “moral high ground” transparency, accountability & endless kenesset committees debates & lefty streets protests etc…

    Every state that thought doing business with Israel gas, will dump Israel
    contracts to the more lucrative, profitable, instant of the desk Egypt gas contracts

    Effectively turning “Israel gas for Israelis” into a reality,
    producing not even a NIS shekel

    Do you rather prefer Egypt Miltary Dictator economic performance
    or do you still vote for a “better democratic” Israel under the Left Claws.!?

  3. =
    Egypt will fastly develop, market & sell its gas overseas. Egypt is hungry to foreign currency, as it could help pull Egypt out from its economic crisis & develop its economy for its 80 millions residents.
    Egypt President El-Sissi will not hesitate to shoot down any protestors
    that would dare claim “egypt gas for egyptians” .

    Compare such Egypt gas policy to that of the Israel left burying
    Israel offshore gas fields with all type of so called regulations, bureaucracy,
    “moral high ground” transparency, accountability & endless kenesset committees debates & lefty streets protests etc…

    Every state that thought doing business with Israel gas, will dump Israel
    contracts to the more lucrative, profitable, instant of the desk Egypt gas contracts

    Effectively turning “Israel gas for Israelis” into a reality,
    producing not even a NIS shekel

    Do you rather prefer Egypt Miltary Dictator economic performance
    or do you still vote for a “better democratic” Israel under the Left Claws.!?

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