EGYPT

EGYPT (in North Africa)	CAPITAL: CAIRO POPULATION: 80 mm AREA (on): 1,001,500 km² OIL PEAK: 1987
SUPPLY Oil production in Egypt peaked in 1993 and has been persistently declining ever since, although there was some recovery in 2007 and 2008 as new condensate output was realised. The country’s two main oil producing regions, the Gulf of Suez and the Western Desert, are both in decline although small finds may still be occasionally made. Some gas is produced in both these regions but the real growth in gas in Egypt is from the offshore Nile Delta where a series of deepwater discoveries, the first of which came onstream in 2003, have begun to deliver gas to the local market and to an LNG plant for export. Considerable growth in gas output is forecast from the Nile offshore region. DEMAND Egyptian oil exports are dropping rapidly whilst consumption stays flat and the country is likely to become a net importer by 2013. Some minor consumption growth is forecast up to 2013 after which lack of indigenous oil will begin to quell demand. Gas consumption is increasing rapidly. Gas is used in new markets in the north of the country being created as production capacity increases and especially substituting for oil in power generation. Gas exports by both pipeline and LNG have increased dramatically, although will probably peak in 2010/2011.


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