Mail & Guardian Africa: The League of African Natural Gas Producers—Where One Country Is Set to Turn Regional Industry on Its Head

Last week Egypt discovered a huge natural gas field off its coast—the largest ever find in the Mediterranean sea.

Its finder, Italy’s Eni, said the “super” deep water prospect may hold 30 trillion cubic feet of fuel. (Last year, the US used about 26.8 trillion cubic feet of natural gas—which accounted for nearly a third of its total energy use.)

Egypt, a former exporter-turned-importer due to rising domestic demand and reduced exploration following recent political unrest, has said it would keep all the gas for itself. It could potentially save the country an $2 billion import bill.

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It is a find that will shake up the increasingly vibrant African natural gas market, which has seen big finds in recent years in a raft of countries and which threaten to upset the natural order.

Read the full article HERE.