Italy’s Eni cannot export gas upon Egypt’s approval- official

Egypt’s state-run General Petroleum Corporation (EGPC) has informed the Italian oil major Eni, following its supergiant Zohr gas discovery, not to export gas without the approval of Egyptian Ministry of Petroleum.

Mohamed al-Masry ,EGPC’s chairman, stated Saturday that Egypt will allow Eni to export gas only when there is a surplus in state’s production and that will happen with new discoveries.

In August 2015, Eni has discovered gas reserves of up to 30 trillion cubic feet in the Zohr prospect in Egypt’s Mediterranean, making it the biggest gas discovery ever made in Egypt.

“Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world’s largest natural-gas finds,” Eni said in a statement.