Loading ...Massive gas find promises to ease Egypt's fuel crisis
CAIRO — The discovery of a huge gas field off Egypt’s coast promises to ease a long-running fuel crisis and boost the economy after years of unrest, but it will take years to develop and won’t bring Gulf-style riches to the Arab world’s most populous country, experts said Monday.
The new “supergiant” offshore Zohr field, revealed a day earlier by Italy’s Eni SpA and billed as the “largest-ever” found in the Mediterranean Sea, could alleviateEgypt’s need for gas imports in the coming years, when a booming population will lead to a spike in domestic demand.
Source: www.statesman.com