Italian energy group Eni is open to selling a stake in its mega gas discovery in Egypt, as it has done for another gas field in Mozambique, its chief executive said in a newspaper interview published on Monday.
“It’s an open door to give value and solidity to Eni’s balance sheet,” Claudio Descalzi told Italy’s La Repubblica. “But it will not be a necessary outcome. There is much less to spend than in Mozambique and the new gas is aimed at the local domestic market with prices disconnected from those of oil.”
State-controlled Eni said on Sunday it had discovered the largest known gas field in the Mediterranean off the Egyptian coast, predicting the find could help meet Egypt’s gas needs for decades to come.