Cairo – Mubasher: Egypt has a well-developed domestic gas market that qualifies it to become the best net importer for foreign markets and the European Union (EU), according to Financial Times.
The North African country should benefit from the liquefied natural gas (LNG) plants by building a network of short pipelines in light of limited domestic markets, the newspaper highlighted.
“The availability of abundant and cheap electricity could meanwhile allow Egypt to host more energy-intensive industries,” the newspaper continued.
The development of the Israeli, Lebanese and Cypriot fields is “more fraught”, the newspaper noted, adding that Egypt provides “the most pragmatic route to reap the economic benefits without exacerbating regional tensions”.
Financial Times also indicated that Italy’s Eni has started production in Egypt’s giant Zohr gas field, while Britain’s BP has started production in the West Nile Delta.
In December, Eni announced that it had produced its first gas from offshore Zohr field in Egypt.
