Production plans for Zohr are on schedule, and Egypt will be Eni’s top country for investment in the next two years.
Egypt was a net exporter of LNG until 2014, when declining output and power shortages resulting from political upheaval turned it into a net importer. Egypt will buy as many as 108 cargoes of LNG this year and has run up a debt of US$3.6 billion to international energy companies.
Egypt plans to boost its gas output by 50% by the end of 2018, from 3.8 billion ft3 at the end of last year.
