*Egypt has enjoyed a rapid rise in gas output in recent years. For 2020, as Covid-19 hit demand, the country had more gas than it knew what to do with (MEES, 12 February), even before factoring in the start of imports from Israel (MEES, 19 February).
*Since Q3 2018 output has been structurally higher than consumption (see chart, MEES, 26 February). This situation looks set to remain the case for the foreseeable future given plentiful interest from oil majors in Egypt’s gas-rich offshore Mediterranean (MEES, 26 February), notwithstanding rapid decline rates at many of Egypt’s offshore fields (MEES, 26 February). (CONTINUED - 346 WORDS)
