Insight
How long will Egypt's gas crunch last this time?
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Report summary
Egypt is experiencing an earlier than predicted gas deficit. Production at the key Zohr field has fallen due to water breakthrough. With some onshore producers focusing on oil and limited new development opportunities following disappointing recent deepwater exploration, the country’s gas supply outlook is challenged. To compensate for declining production, Egypt has imported record volumes from Israel in 2023, becoming a net importer again. Egypt has several ways to balance the market, including reducing demand and importing LNG. We expect the supply outlook to brighten towards the end of the decade with increasing imports of regional piped gas aiding supply. And increased exploration led by the Majors could yet alter dynamics.
Table of contents
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Executive Summary
- Back to the shortages of a decade ago
- Zohr’s output declines below the DCQ
- Others take their foot off the gas
- Egypt returns to net gas importer status
- Outlook for LNG exports challenged
- What are Egypt’s options?
- Short term
- A lean few years beckon
Tables and charts
This report includes the following images and tables:
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Egypt's gas production by fieldZohr's current and previous production forecastEgypt's piped gas and LNG imports
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Egypt's monthly LNG exportsEastern Mediterranean key gas infrastructureEastern Mediterranean and Red Sea Majors exploration acreage and key upcoming wellsRegional unrisked supply potential
What's included
This report contains:
