Egypt’s gas production has edged lower for each of the past three years since peaking at 62.7bcm in 2009. Production of 60.6bcm for 2012 was 3% down on 2009 and a further 0.6bcm/year (60mn cfd) down on 2011 (see graph and table). Output for the last quarter of 2012, at 59.5bcm/y, fell below the 60bcm/y mark on a quarterly basis for the first time since 2008.
Meanwhile soaring consumption – up 10% for 2011 despite the country’s revolutionary economic hangover, and thought to have grown by a similar figure last year – is set to catch up with production as early as next year; if Egypt can secure the gas supplies to meet demand. (CONTINUED - 1550 WORDS)