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Egypt Oil & Gas Output Slump Continues: MEES

ENERGY

Egypt’s gas output slumped to a six-year low of 5.3 bcf/d in Q1, according to MEES.

  • Egypt has typically been a net exporter of LNG but is expected to require net imports this summer to meet domestic demand and stave off rolling blackouts which occurred last year.
  • Egypt has also signed a deal with Höegh for an LNG terminal rental
  • Egypt’s oil output slumped to a multi-decade low of 559k b/d in Q1, down 3% on the quarter and the lowest since the early 1980s.
  • Although Egypt recorded marginal output increases in 2022 and 2023, the trajectory is now pointing downwards with successive falls for each of the last three quarters.
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