Italian energy firm Eni revealed on Tuesday a “significant” gas and condensate discovery offshore Egypt. Preliminary estimates indicate about 2 trillion cubic feet of gas initially in place and 130 Mbbl of associated condensates, according to Eni.
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Egypt, which has turned to LNG imports over the last two years to cover domestic natural gas shortages, will receive more much-needed gas supplies after UK-based LNG giant Shell and its partners took a final investment decision on the Phase 12a development project in the West Delta Deep Marine (WDDM) concession.
UK-based energy giant BP, Adnoc's international investment unit XRG, and a unit of Qatar's UCC have secured a license to explore and develop the second phase of Venezuela's offshore Loran gas field.
Argentina LNG, a joint venture of Argentina’s state-owned oil and gas company YPF and its partners Eni and XRG, has submitted its application to join Argentina’s large investment incentive regime (RIGI), supporting the development of the large-scale LNG export project with a total investment of $51 billion.
Argentina’s state-owned oil and gas company YPF and its partners Eni and XRG are still targeting a final investment decision on the 12 mtpa Argentina LNG project by the end of this year, according to YPF CEO Horacio Marin.