The Egyptian Natural Gas Holding Company (EGAS) and ENI sign an agreement to maximize gas production and Liquefied Natural Gas (LNG) export. ENI is an Italian multinational oil and gas company active in Egypt since 1954. It is Egypt’s leading hydrocarbon producer, with about 360,000 barrels of oil equivalent per day.
ENI set up a net-zero strategy to be reached by 2050 that involves initiatives aimed at developing factories for Carbon Capture & Storage (CCS), renewable energy, agro feedstock, and more. It also seeks to decarbonize the country’s energy sector and enhance gas reserves. The agreement aims to promote Egyptian gas export to Europe, specifically Italy, to transition into a low carbon economy. According to a press release by ENI, the company will use campaigns in current areas and the newly acquired land in the Nile Delta, Eastern Mediterranean, and Western Desert regions.
