Eni signs an agreement to supply Europe with Egyptian gas

The Italian group Eni announced that it had signed an agreement to boost gas production in Egypt and increase liquefied natural gas supplies to Europe. This step comes at a time when Italy and Europe are intensifying their efforts to find alternative gas imports, to reduce their dependence on Russian gas with the escalation of the war in Ukraine. On Monday, Italian Prime Minister Mario Draghi concluded an agreement to increase gas imports from Algeria to help replace about 29 billion cubic meters that Italy gets from Russia.

Eni, which discovered in 2015 the giant ” Zohr ” gas field in Egypt, said it had agreed with the Egyptian Natural Gas Holding Company (EGAS) to boost gas production and intensify exploration in existing and new fields. cubic meters of liquefied natural gas to Europe this year. Eni, its largest state shareholder, owns a stake in the Damietta LNG plant, which has a production capacity of more than 7.5 billion cubic meters annually.