Eni's Bouri Offshore oil terminal is seen off the Libyan coast, in the Mediterranean sea, Tuesday, Aug. 1, 2015. (AP Photo/Gregorio Borgia)
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The discovery of a huge gas field off Egypt's coast promises to ease a long-running fuel crisis and boost the economy after years of unrest, but it will take years to develop and won't bring Gulf-style riches to the Arab world's most populous country, experts said Monday.The latest discovery – potentially 30 trillion cubic feet of gas – represents about half of Egypt's current needs, and would add to its current 65 trillion cubic feet, cut its trade deficit and bring in tax revenue when it comes online in some five years, said Angus Blair of investment advisory firm Signet.Given the country's surging population of 90 million, growing at over 2 percent per year, Egypt desperately needs new energy sources. Until the latest discovery, that would have meant importing gas from the Gulf and neighboring Israel.Gas imports from Israel have long been unpopular in egypt because of the Arab-Israeli conflict.
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