Staff Writer, Arab Finance
Italy-based Eni is planning to carry out a number of solar and wind power projects with a total capacity of 10 gigawatts (GW) in Egypt within the upcoming years, according to a press release published on August 30th.
In a meeting between Egyptian President Abdel Fattah El-Sisi and CEO of Eni Claudio Descalzi, they tackled Egypt’s vision to become a regional hub for natural gas, developing existing liquified natural gas (LNG) plants.
The Italian oil and gas giant is keen on boosting the production of natural gas through an “ambitious exploration and development campaign”.
This will bolster LNG exports to Europe through the Damietta liquefication plant.
Eni has been operating in Egypt since 1954 through its subsidiary IEOC. The company’s total output of natural gas in the country currently amounts to about 60%.
