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In recent years, the eastern Mediterranean has become one of the world's largest offshore drilling areas, with a Gas discoveries In the territorial waters of Israel, Lebanon and Cyprus, Egypt won the lion's share in 2015 by the discovery The field appears What has become one of the largest gas fields in the Middle East.
According to the New York Times, it produces L & # 39; Egypt Has a record 6.3 billion cubic feet of gas per day, an increase of more than 30% since 2016, making it one of the largest producers in North and Middle Africa -East. In January, for the first time in several years, Egypt exported more gas than it imported.
Oil companies plan to increase their gas production by more than 40 percent in Egypt this year, with a general sense of optimism about the wealth of the eastern Mediterranean.
"New Dawn in Egypt"
Claudio Discalzi, CEO of the Italian company Eni, said: "Egypt is one of the best places to dig, with Cyprus and Israel, not only because of the discoveries but also because of its proximity to Europe, which is based on gas ".
The manager added the Italian company that is developing The field appears: "Egypt has all the ingredients for success".
Giant companies came to Egypt after the government decided in 2015 to raise the price of gas to more than one-third.
The company has invested "BP" money in Egypt over the past two years, more than any other country, added $ 1.8 billion this year.
Foreign oil companies have invested about $ 10 billion in investments this year, the paper said.
Which supports The wealth of gas In Egypt, it has two major gas export terminals in the eastern Mediterranean, built during a previous era of gas wealth.
The two plants, which have cooled gas for tanker trucks, have dropped significantly since 2014, when domestic consumption dominated domestic production.
Eni and Royal Dutch Shell plan to reach both plants in full operation this year, hoping to use them to re-export gas produced by neighboring countries without such stations.
Michael Stoppard, chief strategist for the global gas markets at IHS Market, an energy consulting firm, said: "We are witnessing a new dawn in Egypt".
It will help natural gas In the financial stability of Egypt and will also help reduce air pollution.
The Egyptian government pays drivers to convert their gasoline and diesel cars into cleaner, cheaper natural gas.
Up to now, 250,000 cars out of 10 million have been converted to natural gas.
An indispensable partner for Europe
The natural gas boom could help Egypt geopolitically, strengthening economic ties with Jordan and Israel, while Cairo would become an indispensable partner for Europe.
Gas wealth will not only alter the position of Egypt, but will also affect the nature of relations between world powers.
The flow of natural gas in the Mediterranean was bad news for Russia, which had to reduce its prices to maintain its sales in Europe.
But in reality, many European countries have long sought to reduce their dependence on Russia and want to establish new suppliers such as Egypt.
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In recent years, the eastern Mediterranean has become one of the world's largest offshore drilling sites, with a series of major gas discoveries in Israeli, Lebanese and Cypriot territorial waters. Egypt won the lion's share in 2015 by discovering the giant field, individual gas fields in the Middle East.
According to the New York Times, Egypt today produces a record 6.3 billion cubic feet of gas per day, or more than 30 percent since 2016, making it one of the world's largest gas producers. from the largest producers in North Africa and the Middle East. In January, for the first time in several years, Egypt exported more gas than it imported.
Oil companies plan to increase their gas production by more than 40 percent in Egypt this year, with a general sense of optimism about the wealth of the eastern Mediterranean.
"New dawn in Egypt"
"Egypt is one of the best places to dig, with Cyprus and Israel, not only because of the discoveries, but also because of its proximity to Europe, which depends more and more gas, "said Italian CEO Claudio Discalzi.
"Egypt has all the ingredients for success," he said.
Giant companies came to Egypt after the government decided in 2015 to raise the price of gas to more than one-third.
In the past two years, BP has invested more money in Egypt than any other country, with an additional $ 1.8 billion this year.
Foreign oil companies have invested about $ 10 billion in investments this year, the paper said.
Egypt's new gas wealth supports the two largest gas export terminals of the eastern Mediterranean, built in a previous era.
The two plants, which have cooled gas for tanker trucks, have dropped significantly since 2014, when domestic consumption dominated domestic production.
Eni and Royal Dutch Shell plan to reach both plants in full operation this year, hoping to use them to re-export gas produced by neighboring countries without such stations.
"We are witnessing a new dawn in Egypt," said Michael Stoppard, chief global gas strategist at IHSMarket, an energy consulting firm.
Natural gas will contribute to the financial stability of Egypt and will also help reduce air pollution.
The Egyptian government pays drivers to convert their gasoline and diesel cars into cleaner, cheaper natural gas.
Up to now, 250,000 cars out of 10 million have been converted to natural gas.
An indispensable partner for Europe
The natural gas boom could help Egypt geopolitically, strengthening economic ties with Jordan and Israel, while Cairo would become an indispensable partner for Europe.
Gas wealth will not only alter the position of Egypt, but will also affect the nature of relations between world powers.
The flow of natural gas in the Mediterranean was bad news for Russia, which had to reduce its prices to maintain its sales in Europe.
But in reality, many European countries have long sought to reduce their dependence on Russia and want to establish new suppliers such as Egypt.
