Egypt likely to become Europe’s gas shipping hub

Egypt may become a natural gas shipping hub by annually shipping up to 20 billion cubic metres of gas to Europe over the coming few years, Reuters reported, citing CEO of Italy’s Eni Claudio Descalzi.

Gas projects in east Mediterranean countries such as Egypt, Cyprus, and Israel will remarkably help Europe to diversify its gas imports, Descalzi added.

The Arab world’s most populous country is expected to boost natural gas production by a billion cubic feet per day (bcf/d) to reach 6.2 bcf/d by the end of fiscal year 2017/2018.