Italy's Eni makes mega gas discovery off Egyptian coast

By REUTERS
August 30, 2015 17:05

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Italian energy group Eni said on Sunday it had discovered potentially one of the world's largest natural-gas fields off the Egyptian coast, predicting the find could help meet Egypt's gas needs for decades to come.

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

It said the discovery well was located off Egypt's Mediterranean coastline at a depth of 1,450 metres (4,757 ft) with the prospective Zohr field covering an area of about 100 square kilometers (60 square miles).

"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 by Egypt's neighbor Israel, which look certain to have a dramatic impact on energy supplies in both the Middle East and Europe.


Related Content

Breaking news
August 20, 2018
Russia's Putin, despite sanctions, still hopes for better U.S. ties

By REUTERS