13:31 GMT27 January 2020
Listen Live
    Business
    Get short URL
    0 34
    Subscribe

    Gas production at the newly discovered gas field off the Egyptian coast will start in 30 to 36 months, Hamdi Abdelaziz, the official representative of Egypt's Ministry of Petroleum and Mineral Resources, said Monday.

    CAIRO (Sputnik) — On Sunday, Italian energy group Eni said it had found a “supergiant” gas field off Egypt in the Mediterranean Sea, claiming that it could become one of the world’s largest natural-gas finds. The find was confirmed by Egypt's oil ministry.

    "We have discovered a new gas field in the Mediterranean Sea. It will require 30 to 36 months for production to start," Abdelaziz said Monday, adding that the the authorities would try to speed up the launch of the production in order to use the gas for domestic consumption.

    Egypt's newly found gas field could potentially hold 30 trillion cubic feet of lean gas, or 5.5 billion barrels of oil equivalent, covering an area of about 38.6 square miles, according to Eni.

    Earlier, Abdelaziz told the broadcaster Al-Asym that Cairo plans to suspend natural gas imports for three to five years, adding that the newly discovered natural gas reserves should provide Egypt with enough gas for at least ten years.

    Related:

    Italy’s Major Oil Group Finds Biggest Gas Field Off Egypt Coast
    Egypt to Suspend Gas Import After Eni Gas Discovery
    Tags:
    gas, Eni, Mediterranean Sea, Egypt
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik