CEO of ENI Visits Israel

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Eni's Bouri Offshore oil terminal is seen off the Libyan coast, in the Mediterranean sea, Tuesday, ACredit: AP

Two months after ENI discovered a giant reservoir of natural gas offshore Egypt, the Italian energy company’s CEO, Claudio Descalzi, was in Israel at the end of last week to discuss energy cooperation. Descalzi’s visit was important enough to merit meetings with both Energy Minister Yuval Steinitz and Prime Minister Benjamin Netanyahu.

“As part of the growing strategic cooperation between Israel and Italy in a variety of fields, I see great importance to cooperation with Italy also in the field of energy,” Netanyahu said in a statement afterwards.

The discovery at ENI’s Zohr field threatens to upset the Delek-Noble cartel’s plans to export Israeli gas to gas plants in Egypt, including one owned by ENI. Descalzi reiterated his vision of joint energy development between Egypt, Israel and Cyprus.

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