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East Mediterranean: Cyprus upstream to help stabilize Egypt gas balances

카테고리
국외자료
개인저자
Julian Bowden
발행기관
OIES
발행년월
2025.03
페이지수
6p
URL
요약
In February 2025 the development of two Cyprus offshore fields was announced – Aphrodite and Cronos. The significance of this is around two overlapping stories. Firstly, Egypt’s gas production has fallen fast and steeply over the last three years. Avoiding demand- side interventions, Egypt has taken supply-side measures to rebalance its market by importing more pipeline gas from Israel. Crucially, though, it has curtailed LNG exports and become a significant LNG importer. Egypt flipping from LNG exporter to importer in a very short timeframe, worth around 16 Bcma, is having an outsized impact on the global LNG market.