Egypt to Suspend Gas Import After Eni Gas Discovery

The representative of the Egyptian Ministry of Petroleum and Mineral Resources said that the gas field, discovered by the Italian giant ENI, will enable Egypt to live without importing gas for at least ten years.

Following the discovery of potentially the world's largest natural-gas field off the Egyptian coast, Cairo plans to suspend for three to five years, imports of natural gas, official representative of the Egyptian Ministry of Petroleum and Mineral Resources Hamdi Abdelaziz said on Sunday in an interview with television channel “Al-Asym”, RIA Novosti reported.

According to him, the gas field, discovered in Egypt is the most major discovery since 1967. Abdelaziz added that the available natural gas reserves, with an estimated volume of about 30 trillion cubic feet, will provide Egypt with enough gas for at least ten years.

“It is important because in this case we do not need to import gas from other countries,” said Abdelaziz during the interview.

Regarding the Eni's discovery off the Egyptian coast, the CEO of the Italian energy giant said that it will be a game changer for Egypt and the Mediterranean in terms of energy stability.

Following the discovery in Egypt, Israeli media have suggested that this discovery will directly reflect in the Israeli market, which planned to supply gas to Egypt with its Mediterranean field 'Leviathan.'