ASSESSMENTS

Energy Security Will Not Cure All of Egypt's Ills

Sep 4, 2015 | 09:00 GMT

The headquarters of the state-owned Egyptian Natural Gas Holding Co. in Cairo in April 2012.
The headquarters of the state-owned Egyptian Natural Gas Holding Co. in Cairo in April 2012.

(KHALED DESOUKI/AFP/Getty Images)

Summary

Italian oil firm Eni's Aug. 30 announcement that it has discovered the largest known natural gas deposit in the Mediterranean in Egyptian waters means Egypt could re-establish its energy independence with natural gas supplies, ending several challenging years for the country's energy sector.

The discovery of a vast natural gas field in Egyptian waters will not solve the country's import problem, and will disappoint Israel....

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