Egypt said it was planning to drill around 35 new exploratory natural gas wells in the Eastern Mediterranean and the Nile Delta by 2025 with $1.8 billion in investments in joint ventures with oil and gas majors and with a view to increasing liquefied natural gas production.

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The 50th anniversary Gastech Exhibition and Conference on LNG, pipeline natural gas and emerging energies entered its third day on Wednesday after serious discussions on the natural gas crisis in Europe, the future of Gazprom's ties with the West and projects to replace Russian gas from regions like the East Mediterranean and Africa.

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Mubadala Petroleum, the international energy company based in Abu Dhabi in the United Arab Emirates and with natural gas assets in the Eastern Mediterranean and LNG feed-gas resources in Malaysia, has reported a surge in annual production.

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QatarEnergy, the world’s No. 2 LNG producer after Australia, is continuing to focus on exploration and production with partner ExxonMobil and both have signed a production sharing contract for one of the few expanding Basins in the West, the East Mediterranean.

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Italian energy company Eni said the final agreement has been finalized that settled the dispute over operations at the Egyptian Damietta LNG export plant near Alexandria and the facility has been ramped up and cargoes are flowing.

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