Italian oil major Eni has announced plans to carry out several solar and wind power projects with a capacity totaling 10GW in Egypt over the upcoming years, according to a press release published August 30.
During a recent meeting, Egyptian President Abdel Fattah El-Sisi and Eni CEO Claudio Descalzi discussed Egypt’s vision to become a regional hub for natural gas, developing existing LNG plants.
The main subject of the discussions was the production of natural gas and LNG exports. With an annual natural gas output of 538 billion cubic feet, Eni produces more than half of the total gas in the North African country which aims to become a regional gas hub
The Italian oil and gas giant is keen on boosting the production of natural gas through an “ambitious exploration and development campaign”.
This will bolster LNG exports to Europe through the Damietta liquefication plant.
Eni has been operating in Egypt since 1954 through its subsidiary IEOC. The company’s total output of natural gas in the country currently amounts to about 60%.
