Eni expressed its commitment to expediting decarbonisation efforts and methane emissions reduction, and implementation of other energy efficiency solutions. Credit: Kraft74/Shutterstock.

Egypt’s President Abdel Fattah al-Sisi has convened a meeting with Eni CEO Claudio Descalzi to deliberate on strategies to enhance gas production, as Egypt seeks to address its domestic demand through increased engagement in the liquefied natural gas (LNG) market.

The dialogue comes as Egypt, which has ambitions to become a significant gas exporter, is compelled to import LNG to satisfy its domestic needs.

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Since the discovery of the Zohr offshore field in 2015, Egypt’s gas production has been waning, with 2023 figures hitting a six-year low.

The average output at Zohr has dropped to 1.9 billion cubic feet per day in the first half of 2024 – a stark contrast to the peak levels of 2019.

The decline has fuelled speculation about potential technical challenges and investment pauses in the field.

The meeting also covered Egypt’s pivotal role in the development of a gas hub in the eastern Mediterranean. Eni expressed its commitment to expediting decarbonisation efforts, including methane emissions reduction and the implementation of other energy efficiency solutions.

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Eni’s chief operating officer for global resources, Guido Brusco, revealed in a post-result conference call on Friday that the company plans to commence operations to restore gas production at Zohr at the start of 2025, as reported by Reuters.

In October 2024, trading sources reported that Egypt is preparing to issue a tender for up to 20 cargoes of LNG to fulfil demand for the first quarter of 2025.

In related news, Eni, alongside BP, has resumed exploration activities in Libya’s Ghadames Basin – a significant resumption after a ten-year pause due to the country’s political unrest.

Eni has begun drilling its first exploratory well, A1-96/3, in Area B of the Ghadames Basin, in line with the 2007 Type IV contracting agreement.