Egypt has in theory enjoyed a substantial gas surplus since 2018 as key deepwater fields including Eni’s Zohr ramped up output. The country’s energy ministry claims output capacity of 7.2mn cfd, well in excess of local demand of around 5.7bn cfd.

So in theory this gas boom should have resulted in a boom in the country’s LNG export volumes. But it isn’t working out quite like that. (CONTINUED - 1557 WORDS)