Egypt Might Be Joining The Natural Gas Powerhouses
An Italian energy company says it found what could be one of the world's largest natural gas fields, located in the Mediterranean Sea near Egypt.
Italian firm Eni has discovered what is possibly one of the world's largest natural gas fields. (Video via YouTube / enivideochannel)
The field is located off Egypt's coast in the Mediterranean Sea.
Eni said in a statement it is working with Egyptian officials to appraise the field, which is the largest ever in the Mediterranean Sea.
Before the find, consulting firm Stratfor reported natural gas fields had been so small and so deep in the Mediterranean that Egyptian natural gas was worth only a third of the average price on the international market.
Egypt is already the largest natural gas consumer in Africa. Its government has reportedly spent the past six months securing imports.
It's unclear how the Egyptian discovery will affect the U.S. American officials have been mulling whether to invest more in natural gas, debating if the jobs it could bring are worth the likely increase in domestic natural gas prices.
Last year, only the second and third U.S. natural gas facilities with the potential to export to Europe and Asia were approved.
Iran says supreme leader pardoned 22,000 people arrested in protests
Comments that those pardoned had not committed theft or violent crimes suggests that the total detained in the demonstrations is even greater.
Iran, Saudi Arabia agree to resume ties, with China's help
The joint statement calls for the reestablishing of ties and the reopening of embassies to happen “within a maximum period of two months.”
US defense secretary makes unannounced visit to Baghdad
Lloyd Austin said U.S. forces are ready to remain in Iraq at the invitation of its government, adding that they are operating in a non-combat role.
Research finds climate change is making allergy season worse
A review of data shows the rate of temperature increase correlates to a rise in the number of patients suffering from nasal and sinus problems.
UN report: We're losing progress in fight against climate change
A new report finds Earth will likely hit a critical climate change threshold in the coming years.
Adam Sandler receives Mark Twain Prize, praise from comic pals
Sandler, 56, launched a wildly successful movie career with more than 30 films after a five-year stint at "Saturday Night Live."