North Africa is probably the most potent region for more oil and gas for Europe. And it’s a lot closer than the Middle East. One thing we must have our eyes on is the demographic development of this region and hence its domestic energy demand. Egypt turned gas importer after having been an LNG exporter for a while already once. It still needs gas from abroad. Similar issues plague Algeria. Those countries would benefit a lot from more efficient grids and – yes I say it – nuclear power. They have enormous baseload needs – and it frees up hydrocarbons for Europe.
Eni has made new oil and gas discoveries in the Meleiha concessions in Egypt's Western Desert, for 8,500 barrels per day of oil equivalent.