From the “What Energy Shortage” department…
The Italian energy company ENI has found an estimated 30 Trillion cubic foot natural gas field off the coast of Egypt.
I first heard this story on CNBC World financial news channel, so they get top billing:
Eni makes huge natural gas deposit find off Egypt’s coast
Italian energy group Eni said on Sunday it had discovered potentially one of the world’s largest natural-gas fields off the Egyptian coast, predicting the find could help meet Egypt’s gas needs for decades to come.
“According to the well and geophysical data available, the field could hold a potential of 30 trillion cubic feet of lean gas in place,” Eni said in a statement.
It said the discovery well was located off Egypt’s Mediterranean coastline at a depth of 1,450 metres (4,757 ft) with the prospective Zohr field covering an area of about 100 square kilometres (60 square miles).
Yes, 30 Trillion cubic feet.
The find follows other significant gas discoveries in the Mediterranean in recent years, including by Egypt’s neighbour Israel, which look certain to have a dramatic impact on energy supplies in both the Middle East and Europe.
So there’s a whole lot of gas in the neighborhood… Wonder what will be found when the whole Med. is explored…
I like what these folks call it:
Italy’s Eni Finds ‘Supergiant’ Natural Gas Field off Egypt
ROME — Aug 30, 2015, 5:47 PM ET
The Italian energy company Eni SpA announced Sunday it has discovered a “supergiant” natural gas field off Egypt, describing it as the “largest-ever” found in the Mediterranean Sea.
The news came a day after Eni CEO Claudio Descalzi met in Cairo with Egyptian President Abdel-Fattah el-Sissi, the Egyptian leader’s office said.
Eni said the discovery — made in its Zohr prospect “in the deep waters of Egypt” — could hold a potential 30 trillion cubic feet of gas over an area of 100 square kilometers (38.6 square miles).
The discovery well is 190 kilometers (about 120 miles) from the Egyptian coast, and is at a depth of 1,450 meters ( 4,757 feet) in the Shorouk Block, the company said. The block is about 107 kilometers (66 miles) from Port Said.
The deeper we go, the more we find. Clue Alert…
So England just discovered a load of fossil fuel. Now Egypt. Canada is soaked in the stuff. The USA has been so endowed that with a bit of fracking the cost has dropped to dirt cheap. Then Saudi opened the tap a bit because they were losing market share and plunged the price of a bbl of crude to under $40. Sure doesn’t sound like any energy shortage to me.
No wonder the folks running the Global Warming scam are trying to get fuels shut in. There’s just so much of it that they can’t keep the price up.