LONDON/HOUSTON/SINGAPORE -- Egypt's gas market is poised to undergo profound changes in the next five years, and these could have an impact on the global LNG market, seeing Egypt position itself as a prominent seasonal player, research from global natural resources consultancy Wood Mackenzie shows.
After five years of falling gas production and switching from a net exporter to a net importer, Egypt's fortunes look set to change. As a number of major offshore gas developments come on stream in the next few years, including BP's West Nile Delta and Atoll fields, and Eni's massive Zohr find, the North African country will add a cumulative 41 Bcm a year of gas production by 2022. These new volumes will push the country's gas market back to surplus.
