Egypt will be able to create a hub of energy with Israel and Cyprus, and even Libya in the future, ENI CEO Claudio Descalzi said in an interview with Bloomberg on Friday, regarding the recent Zohr field discovery in its exclusive economic zone (EEZ).
Regarding how the matter affects the politics in the Middle East, Descalzi specifically told Bloomberg: “Egypt will be completely self-sufficient. At the end, they’ll also export energy. It will create stability in Egypt. They can create cash flow selling gas and promote their own development. Then they can aggregate. They can create a hub with Israel, with Cyprus, in the future with Libya. They can be one of the solutions for European energy security.”
As per the cooperation between Israel and Egypt, Descalzi said that the two countries need each other, and that they can share their facilities and work together.
Source: Bloomberg
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