DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/2z5dvc/egypt_oil_and_gas) has announced the addition of the "Egypt Oil and Gas Report Q2 2012" report to their offering.
BMI View: On the one hand, Egypt is a significant LNG exporter and its Nile Delta and Western Desert prospects have attracted independents and majors alike. On the other, the country has failed to avoid sliding into net oil importer status; from a net crude export high of 513,000b/d in 1993, Egypt became a net importer in 2009-10. We expect oil production to continue sliding at the same time as rising consumption. Growing demand for gas will eat into new production volumes, pulling down export volumes in the second half of the forecast decade.
We highlight these trends and developments in Egypt's oil and gas sector: ..BMI expects Egyptian oil production to decline from 650,000 barrels per day (b/d) in 2011 to just under 584,000b/d in 2021. Consumption is expected to rise significantly, from 800,000b/d to 1.09mn b/d in the same period, quadrupling Egypt's oil import bill in the coming years.
- We do not see any proposed refineries advancing over the forecast period, and with refining capacity remaining flat, imports of refined products are set to rise from 150,000b/d in 2011 to over 500,000b/d by 2021.
- Although gas production is expected to grow from 62.5bn cubic metres (bcm) to 86.5bcm in 2011- 2021, consumption will also rise significantly, from 46.4bcm to 70.3bcm. As a result, liquid natural gas (LNG) exports will rise modestly in 2011-2015, but then gradually fall below 17bcm by the end of the forecast period.
- We do not see Egypt continuing significant gas exports to Israel in 2012 and beyond, although gas flows through the Arab Gas Pipeline will help provide much-needed export revenues, particularly as gas prices for Jordan have been raised by the interim post-Mubarak government.
Companies Mentioned
- Egyptian General Petroleum Corporation (EGPC)
- BP Egypt
- Eni Egypt
- Shell Egypt
- BG Egypt
- Apache Energy
- Dana Gas
- Edison
- RWE Dea
- Melrose Resources
- Lukoil
- ExxonMobil
- Chevron
- GDF Suez
- Reliance Industries
- Enel
For more information visit http://www.researchandmarkets.com/research/2z5dvc/egypt_oil_and_gas