After Algeria, Qatar, Angola and Congo, today Egypt. The goal is always the same: to diversify gas supplies and allow Italy to be less and less dependent on Russia. The CEO of Eni, Claudio Descalzi, on a mission in recent days with the Foreign Minister, Luigi Di Maio, today met the President of the Arab Republic of Egypt, Abdel Fattah al-Sisi, to discuss the activities of the oil giant in the country and areas of common interest and collaboration. During the meeting, which was also attended by the Minister of Oil and Mineral Resources, Tarek El-Molla, the topic of natural gas production and the export of liquefied natural gas (LNG) was discussed, areas in which the ‘
The parties, Eni said, “shared Egypt’s vision of becoming a regional gas hub, leveraging existing LNG plants. Eni currently produces about 80% of the gas destined for the domestic market for the generation of The company is committed to supporting local production through an ambitious exploration and development campaign, which will also contribute to exports through the Damietta liquefaction plant, successfully restarted in 2021, helping to return to Egypt’s role as a net LNG exporter “.
Eni has undertaken to accelerate the decarbonisation of its activities and to develop projects, already defined in 2021, for the capture and storage of CO2 (CCS) and for the production of hydrogen. In particular, in Damietta, following the MoU signed in July last year, Eni is dedicating itself to the development of decarbonised hydrogen associated with a CCS project aimed at the production of blue ammonia. This project could be further expanded to decarbonise the Damietta industrial area for a total of 5 million tons of CO2 in the first phase of capture. Furthermore, in addition to the already existing projects to replace gas with renewables, “there was discussion of a larger photovoltaic project for civilian purposes of several GWs”, the group specified.
Also on the table are upstream activities in the country, where Eni has recently been awarded five new licenses located in prolific basins and close to its production plants, for a rapid enhancement of any exploratory discoveries. Eni, present in Egypt since 1954 through the subsidiary Ieoc, is currently the main producer in the country with an equity production of hydrocarbons equal to approximately 360,000 barrels of oil equivalent per day.
Just today the premier, Mario Draghi, following the interview with the Russian president, Vladimir Putin, assured that gas supplies from Russia are not at risk, reiterated that a ceiling on the price of gas is needed (today in retreat of the 5.4% to 113.25 euros per megawatt hour) and the breakdown of the mechanism that links the price of gas to that of electricity. As for Russia’s reverse on its decision to impose payments in rubles for gas supplies, Draghi merely said that “I don’t think Western countries have done anything more than say that paying in rubles was not acceptable and not possible. “.
This morning the Kremlin spokesman, Dmitry Peskov, explained that “hostile” countries wishing to buy Russian gas will have to buy rubles corresponding to the currency established in the contracts for subsequent purchases of Russian gas and added that Gazprombank could be involved in the purchase scheme. of gas in rubles. Putin then announced that he had signed a decree under which international buyers of Russian gas will have to pay in rubles starting tomorrow. If payments are not paid, the Kremlin warned, existing supply contracts will be suspended. (All rights reserved)

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