Egypt is playing up its role as a gas export hub for the East Mediterranean region as it grapples with its own steep production declines. Domestic production has fallen from more than 7bn cfd in 2021 to less than 4bn cfd, forcing Egypt to restart LNG imports along the way.
It has been importing Israeli gas since 2020, first for re-export from its LNG terminals and since 2023 in order to prevent domestic shortages. Imports are set to rise from 1bn cfd currently to around 1.5bn cfd by the end of the year, increasing to over 2bn cfd by 2030. By 2031, Egypt could also be importing 1.2bn cfd from Cyprus, with clear progress being made at its neighbor’s Cronos and Aphrodite fields. (CONTINUED - 869 WORDS)
