*Egypt’s gas output fell to 6.24bn cfd for January, down 80mn cfd on December and 550mn cfd (8%) year-on-year for the lowest monthly figure since November 2020. Output hit a record 7.06bn cfd in September 2021 before water infiltration issues saw a 2.6bn cfd output cap placed on the country’s flagship 21.5tcf Zohr field (MEES, 22 April 2022).
*At the same time the country’s gas consumption rose 3% month-on-month to 5.71mn cfd for January. Though this remains almost 300mn cfd down on the year-ago figure of 6.00mn cfd and the lowest January figure since 2019, the steeper fall in output means the country’s surplus of supply over demand has fallen from a year-ago 790mn cfd to just 529mn cfd for January (see charts 1 & 2). (CONTINUED - 577 WORDS)