East Med rides the waves
Egypt, Israel and Cyprus all saw progress in their ambitions to develop the prodigious East Med basin in 2018
The one-time backwater that was the East Med continued its transformation into one of the world's most prospective natural gas areas in 2018, with Egypt pushing the envelope through major projects and Israel also looking to get in on the act with a bold plan to send gas to its neighbour—and one-time supplier—Egypt. Italy's Eni, which discovered the giant Zohr field, which contains some 30 tr cf of gas, was reported earlier in the year to be preparing to carry out exploratory drilling at the Noor field, off Sinai, amid speculation that another Zohr-size discovery was in the offing. Interest in Egypt piqued as a result of the increasingly attractive terms on offer to international firms. This
Also in this section
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy