Egypt to Suspend Gas Import 

Egypt to Suspend Gas Import Egypt to Suspend Gas Import 

The representative of the Egyptian Ministry of Petroleum and Mineral Resources said the gas field, discovered by the Italian giant ENI, will enable Egypt to live without importing gas for at least 10 years.

Following the discovery of potentially the world's largest natural-gas field off the Egyptian coast, Cairo plans to suspend for three to five years, imports of natural gas, official representative of the Egyptian Ministry of Oil and Mineral Resources Hamdi Abdelaziz said on Sunday in an interview with television channel “Al-Asym”, RIA Novosti reported.

According to Abdelaziz, the gas field is the biggest discovery since 1967. He added that the available natural gas reserve, with an estimated volume of about 30 trillion cubic feet, will provide Egypt with enough gas for at least 10 years.

“It is important because in this case we do not need to import gas from other countries,” he said.

Following the discovery in Egypt, Israeli media have suggested that this discovery will directly impact the Israeli market, which planned to supply gas to Egypt with its Mediterranean field Leviathan, which is a large natural gas field located in the Mediterranean Sea off the coast of Israel.