Major Natural Gas Discovery Offshore Egypt; Striving for Self-Sufficiency by 2030
Egypt has discovered a new natural gas field with reserves of 2 trillion cubic feet offshore in the Eastern Mediterranean, aiming for oil and gas self-sufficiency by 2030. This discovery is located in the Temsah concession area, close to existing infrastructure, and is also expected to produce 130,000 barrels of condensate daily. Facing increasing energy demand due to population growth, Egypt is implementing power-saving measures and expanding renewable energy plans to cope with supply chain disruptions and rising fuel prices caused by the Middle East conflict. Italy's Eni Group plans to invest $8 billion over the next five years to support Egypt's energy development.
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- 📰 Published: April 8, 2026 at 18:46
- 🔍 Collected: April 8, 2026 at 19:00 (14 min after Published)
- 🤖 AI Analyzed: April 15, 2026 at 17:35 (166h 35m after Collected)
Egyptian media "Al Ahram" reported that the Egyptian oil and gas contractor, Italian energy giant "Eni Group," announced on the 7th a new natural gas discovery offshore in the Eastern Mediterranean of Egypt, with reserves estimated at 2 trillion cubic feet.
The report pointed out that this well is located in Egypt's Temsah concession area, 70 kilometers from the coast, at a water depth of 95 meters, and less than 10 kilometers from the existing Temsah gas field infrastructure. This newly drilled exploration well is also expected to produce 130,000 barrels of condensate per day, making it highly valuable for exploitation.
Egypt's population in 2024 is approximately 110 million. If calculated with a 50% power generation efficiency, the 2 trillion cubic feet of natural gas could generate 300 to 350 megawatts of electricity, equivalent to supplying basic household electricity (for cooking and hot water) for 60 to 70 million people for one year, excluding other industrial and commercial electricity.
The report noted that Egypt's current domestic natural gas daily production is close to 4.1 billion cubic feet, while daily demand is about 6.2 billion cubic feet, and due to rapid population growth, the pressure on energy demand continues to rise.
In addition, the ongoing US-Iran conflict has forced ships to reroute, disrupting the energy supply chain, and pushing global crude oil and petroleum product prices to historic highs. Egypt announced on March 10 to raise the prices of all vehicle gasoline and diesel, with increases ranging from 14% to 30%. The price of 95 unleaded gasoline is now 24 Egyptian pounds per liter (approximately NT$14.4).
The government has also taken various energy-saving measures, such as implementing a one-month temporary curfew starting March 28, requiring all businesses to close by 9 PM. All public outdoor lighting has also been dimmed to reduce energy consumption.
The report indicated that Egypt is actively accelerating its renewable energy expansion plan amidst this regional crisis. Furthermore, the US Export-Import Bank (EXIM) has approved over $2 billion in export credit insurance for the export of US liquefied natural gas to Egypt. The Egyptian Natural Gas Holding Company (EGAS) also signed a $500 million agreement a few days ago with Arcius Energy (a joint venture between BP and ADNOC) to jointly develop the Harmattan gas field in the Mediterranean.
Egyptian Prime Minister Moustafa Madbouly said that the Egyptian Ministry of Petroleum and Mineral Resources will continue to drill more than 100 liquefied natural gas exploration wells in 2026 and continue to develop existing oil and gas wells to improve resource utilization and ensure new reserves, striving to achieve oil and gas self-sufficiency by 2030.
The "Eni Group" provides about 40% of Egypt's natural gas production and plans to continue investing $8 billion in Egypt over the next five years to explore, drill, and produce oil and gas in concession areas. (Editor: Chang Chih-hsuan) 1150408
The report pointed out that this well is located in Egypt's Temsah concession area, 70 kilometers from the coast, at a water depth of 95 meters, and less than 10 kilometers from the existing Temsah gas field infrastructure. This newly drilled exploration well is also expected to produce 130,000 barrels of condensate per day, making it highly valuable for exploitation.
Egypt's population in 2024 is approximately 110 million. If calculated with a 50% power generation efficiency, the 2 trillion cubic feet of natural gas could generate 300 to 350 megawatts of electricity, equivalent to supplying basic household electricity (for cooking and hot water) for 60 to 70 million people for one year, excluding other industrial and commercial electricity.
The report noted that Egypt's current domestic natural gas daily production is close to 4.1 billion cubic feet, while daily demand is about 6.2 billion cubic feet, and due to rapid population growth, the pressure on energy demand continues to rise.
In addition, the ongoing US-Iran conflict has forced ships to reroute, disrupting the energy supply chain, and pushing global crude oil and petroleum product prices to historic highs. Egypt announced on March 10 to raise the prices of all vehicle gasoline and diesel, with increases ranging from 14% to 30%. The price of 95 unleaded gasoline is now 24 Egyptian pounds per liter (approximately NT$14.4).
The government has also taken various energy-saving measures, such as implementing a one-month temporary curfew starting March 28, requiring all businesses to close by 9 PM. All public outdoor lighting has also been dimmed to reduce energy consumption.
The report indicated that Egypt is actively accelerating its renewable energy expansion plan amidst this regional crisis. Furthermore, the US Export-Import Bank (EXIM) has approved over $2 billion in export credit insurance for the export of US liquefied natural gas to Egypt. The Egyptian Natural Gas Holding Company (EGAS) also signed a $500 million agreement a few days ago with Arcius Energy (a joint venture between BP and ADNOC) to jointly develop the Harmattan gas field in the Mediterranean.
Egyptian Prime Minister Moustafa Madbouly said that the Egyptian Ministry of Petroleum and Mineral Resources will continue to drill more than 100 liquefied natural gas exploration wells in 2026 and continue to develop existing oil and gas wells to improve resource utilization and ensure new reserves, striving to achieve oil and gas self-sufficiency by 2030.
The "Eni Group" provides about 40% of Egypt's natural gas production and plans to continue investing $8 billion in Egypt over the next five years to explore, drill, and produce oil and gas in concession areas. (Editor: Chang Chih-hsuan) 1150408
FAQ
What is the scale of the natural gas discovered by Egypt in the Eastern Mediterranean?
Egypt has discovered a new natural gas field with reserves of approximately 2 trillion cubic feet offshore in the Eastern Mediterranean. This is located less than 10 km from the existing Temsah gas field infrastructure.
By when does Egypt aim to achieve energy self-sufficiency?
Egypt aims to achieve oil and gas self-sufficiency by 2030, by improving the utilization efficiency of its oil and gas resources and securing new reserves.