Tag Archives | consumption levels
Egypt’s oil production has been in decline for almost two decades; however this has been offset by the development of the natural gas industry. In fact, natural gas production has increased fivefold since the mid-1990s. Up to around 2004, gas production had increased by just enough to cater for rising consumption levels. Between 2005 and 2006 there was a surge in production, contributing to significantly higher hydrocarbon exports and growth of the region’s GDP.