All the latest Eni moves in Egypt
Eni has signed a series of agreements with the Arab Republic of Egypt, the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Companny (EGAS) and the Spanish company Naturgy, which provide for the restart of the Damietta liquefaction plant in Egypt by the first quarter of 2021
The Italian multinational Eni has signed agreements with the Egyptian General Petroleum Corporation (Egpc), the Egyptian Natural Gas Holding Company (Egas) and the Spanish company Naturgy, with the aim of restarting the Damietta liquefaction plant in Egypt by 2021, as reads a note dated 1 December 2020.
The importance of this agreement is certainly not difficult to understand: on the one hand, our multinational company carves out ample room for maneuver in order to limit or contain the Turkish energy power projection policy; on the other hand, these agreements make it possible to consolidate relations of an economic nature between Italy and Egypt, relations that have also been able to build around Leonardo and Fincantieri .
However, these close economic ties between Italy and Egypt do not have a significant geopolitical implication, that is, they do not allow our country to exert political influence or on Egypt – as the Regeni case demonstrates – nor do they allow our country to exercise a significant influence on the eastern Mediterranean similar to the initiatives implemented by Turkey.
On the contrary, these agreements allow Egypt to carve out an increasingly important role at the geopolitical level in the Mediterranean in an anti-Turkish function thanks to the military and economic support not only from Italy but also from France and Germany as Eni itself underlines, albeit implicitly. at the end of the press release. "The agreement comes at an important moment, when, also thanks to the rapid start-up of Eni's recent natural gas discoveries, especially from the Zohr and Nooros fields, Egypt has regained its full capacity to satisfy domestic demand of gas and can allocate excess production to export through LNG plants ".
In short, paradoxical as it may seem, Italy is contributing thanks to its industries to consolidate the military and energy power of Egypt. Alongside Egypt, however, there is another front that has not always been the subject of due attention by Italian radical chic analysts for various reasons, certainly including those relating to the embarrassing judicial implications.
We allude to the complex relations between Eni and Nigeria which have been the subject of lengthy inquiries by the International periodical , by the Report and by the Observatory on Rights . We are convinced that even these long and detailed investigations contribute to a better understanding of the functioning of geopolitics at least than that of the real world….
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/italia-eni-consolidare-potenza-militare-energetica-egitto/ on Sun, 06 Dec 2020 07:20:43 +0000.