Italian oil and gas company Eni has announced it plans to implement solar and wind power projects with a total capacity of 10 GW in Egypt in the coming years. The announcement was made following a meeting between Eni executives and the Egyptian government. The parties agreed on the opportunity to implement a set of solar and wind power projects, targeting 10 GW of installed capacity in the forthcoming years, however, no detailed schedule was yet revealed.
Eni and the Egyptian government also discussed the production of natural gas and LNG exports. With an annual natural gas output of about 15 bcm/year, Eni produces 60% of the total gas in Egypt, which aims to become a regional gas hub.
Eni is active in Egypt through its subsidiary IEOC and produces about 350 kboe/day. In 2021, the Italian company agreed with the Egyptian Electricity Holding Company (EEHC) and the Egyptian Natural Gas Holding Company (EGAS) to study the feasibility of projects to produce green and blue hydrogen in the country.
In April 2022, EGAS and Eni have signed a framework agreement that will allow maximisation of EGAS's gas production in Egypt and Egyptian LNG exports to Europe. This agreement, together with the one signed for the restart of Damietta liquefaction plant in 2021, will provide LNG cargoes for overall volumes of up to 3 bcm in 2022 for Eni LNG portfolio bound to Europe and Italy.
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