Diverse East Mediterranean outlook
Egypt will enjoy a gas boom, while Cyprus and Israel struggle to find export markets
During 2017, Egypt adopted an energy sector reform programme, including the liberalisation of the gas industry, and subsidy reductions. These reforms have already benefited the energy sector. Gas production increased, with the giant Zohr gasfield (reserves of 0.85 trillion cubic metres) due on stream in December, helping reduce liquefied natural gas imports by 30%. The first phase of Zohr will be completed during the first half of 2018, adding over 10bn cm a year to the Egyptian gas grid, rising to about 28bn cm/y by 2019. With smaller gasfields also being developed over the same period, Egypt expects to become self-sufficient in gas by the end of 2018, allowing it to phase out LNG imports a

Also in this section
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats