Egypt has made a string of major gas discoveries over the past two months — capped by its biggest find in the Western Desert in 15 years — as the Iran war drives energy demands to record highs, poising Cairo for a return to its role as a major gas export hub.
"I think the new discoveries will help address Egypt's challenging energy balances but are unlikely to be transformational," said Bill Farren-Price, head of gas research at the Oxford Institute for Energy Studies.
"Rising power demand is still likely to outpace upstream gains, although the reforms are likely to pull in more international companies and reinvigorate those already in country," he continued.
In the space of two months Egypt announced three significant gas finds, all linked to Eni, the Italian oil and gas supermajor who is the operator or founding member in the entities that made the finds and has been active in Egypt since 1954.
Record discoveries
