Egypt and Eni Seek Moves to Support Gas Production
(Reuters) - Egypt's president met with Eni CEO on Monday to discuss moves aimed at supporting gas production, the Italian energy group said after the African country was forced to turn to the liquefied natural gas (LNG) market to cover domestic demand.
The country had planned to become a major gas exporter after Eni discovered the giant Zohr offshore field in 2015, but domestic gas production in Egypt has been falling since 2021 to reach a six-year low this year.
Average production at Zohr was 1.9 billion cubic feet per day (Bcfd) in the first half of this year, well below the peak reached in 2019, fueling speculation about technical issues and a halt of investment at the giant field.
At a post-result conference call on Friday, Eni's Chief Operating Officer for Global Resources Guido Brusco said the Italian group would start activities to restore some gas output at Zohr at the beginning of next year.
On Monday President Abdel Fattah al-Sisi and Eni CEO Claudio Descalzi also talked about Egypt's role in developing a gas hub in the eastern Mediterranean and the group's commitment to accelerate decarbonization through methane emissions reduction and other energy efficiency solutions, a statement said.
Three trading sources told Reuters earlier this month that Egypt planned to issue a tender seeking up to 20 cargoes of LNG to meet requests for the first quarter of 2025.
Related News
Related News
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
- Lighter U.S. Permian Crude Risks Losing Favor with Refiners Due to Processing Challenges
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
Comments