The discovery of the Zohr gas field in 2015 by Italian firm Eni proved a game-changer for Egypt’s gas fortunes but a short shelf life means Cairo is now on the lookout for its next ‘Zohr’ as gas output declines persist. From a net gas exporter at the start of the previous decade Egypt became a net gas importer in 2015 before returning to the realm of exporter again in 2018 as Zohr ramped-up following its late 2017 start-up.
But with Zohr output dropping from a peak of 2.74bn cfd in Q3 2021 to 2bn cfd currently on water infiltration issues, the country finds itself on the lookout to lease an FSRU as it looks to resume LNG imports in the coming months in a bid to prevent the return of blackouts (MEES, 22 March). (CONTINUED - 1029 WORDS)
