The first quarterly gas output in three years is a welcome development for Cairo, but it is still waiting for signs of a sustained rebound that will lift production back to levels achieved early last year, let alone in 2021. Recent months have seen fluctuations but little evidence that any gains will be long-lived. Preliminary data for September obtained by MEES show output rebounding to a six-month high of 4.24bn cfd after hovering at just below 4.20bn cfd in July and August.
This resulted in a modest 1% quarter-on-quarter increase to average 4.20bn cfd for Q3, the first quarterly rise since 3Q 2022 (see chart). (CONTINUED - 920 WORDS)
