Infrastructure sharing could turn eastern Mediterranean to energy hub, ENI says

Pipeline

Transnational synergies in the eastern Mediterranean could turn the region into a gas hub, according to Italian energy giant ENI, the company that discovered an estimated 30 trillion cubic feet of gas off Egypt’s coast two months ago.

“By sharing future resources as well as the export and transportation infrastructures of Israel, Cyprus and Egypt, the area could become a regional gas hub able to provide an important contribution to the European energy security,” ENI said in a statement on its website on Thursday, after its CEO Claudio Descalzi met Israeli Prime Minister Benjamin Netanyahu. “During the meeting, ENI’s CEO stressed the importance of synergies resulting from a joint potential development of natural gas in the Easter Mediterranean”.

Descalzi’s meeting with the head of the Israeli PM followed meetings with president Nicos Anastasiades on September 10, and Egypt’s president Abdel Fattah Al-Sisi on October 19, in Cairo, ENI said.

Source: Cyprus Mail