Egypt and Eni announce new natural gas discovery in the Mediterranean

On Tuesday, Egypt and the Italian energy company Eni announced a significant natural gas discovery in the Temsah field in the eastern Mediterranean. Preliminary estimates indicate the presence of approximately 2 trillion cubic feet of natural gas and 130 million barrels of oil condensate. The discovery is part of Egypt's strategy to bolster domestic production and reduce import costs amid regional instability. Prime Minister Mostafa Madbouly recently noted that regional conflicts have increased monthly gas import costs from $560 million to $1.65 billion. This escalation has disrupted supply chains from Qatar and Israel, forcing Cairo to implement fuel price hikes and energy-saving measures. Currently, the Denise W well is being prepared for testing, which will be followed by further drilling operations. Plans also include the construction of an offshore production platform before the field becomes operational. This discovery follows the 2015 find of the Zohr field, which was previously the largest in the country.