Reuters: Egypt's Gas Find Refires Exploration Plans But Wider Med Overlooked

A huge gas find in Egyptian waters is set to speed exploration activity in the area after a lean decade of discoveries, while neglecting the wider Mediterranean whose total estimated reserves theoretically rival those of east Africa.

Italian oil group Eni's discovery of the Zohr field off the coast of Egypt is the Mediterranean's biggest ever, holding an estimated 30 trillion cubic feet (tcf) of gas and fueling interest in the scantily explored region.

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Companies from Anadarko to BG Group are gearing up to build giant gas export plants in Mozambique and Tanzania.

Yet Europe's falling gas output and declining drilling activity is boosting import reliance on Russia.

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