A truck moves past power generating wind turbines on the outskirts of Cairo, Egypt, November 15, 2018. REUTERS/Mohamed Abd El Ghany
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Egypt is looking to use its vast, newly tapped undersea gas reserves to establish itself as a key energy exporter and revive its flagging economy.In the past year, gas has started flowing from four major fields off Egypt's Mediterranean coast, including the vast Zohr field, inaugurated with a great ceremony by President Abdel-Fattah al-Sisi.Discovered in 2015 by Italian energy giant Eni, Zohr is the biggest gas field so far found in Egyptian waters.Egypt's budget deficit, which hit 10.9 percent of GDP in the financial year 2016-2017, has since fallen to 9.8 percent.Gas production has now hit 184 million cubic meters a day.The $15-billion deal will see some 64 billion cubic meters of gas pumped in from the Israeli fields over 10 years.
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