Egypt’s falling gas exports underline need for reform

A combination of stagnant production and rapidly increasing domestic consumption means that Egypt is set to become a net importer of natural gas in the near future. Support from the Gulf should help to mitigate the impact of lower gas export revenues in the near-term. But, over a longer horizon, subsidy reform and improvements to the business environment would help to raise gas exports and place Egypt’s external position on a more sustainable footing.