In recent years, exploratory activities in natural gas have slowed, leading to a depletion of reserves without new discoveries. If this continues, Peru could start importing natural gas between 2037 and 2040, which would drive up electricity generation costs and negatively affect the competitiveness of key sectors including industry, transport, and domestic consumers.
Israel exported a record 981mn cfd of natural gas to Egypt in 2024, good for 18.2% year-over-year. According to Middle East Oil & Gas publication MEES, the remarkable surge in imports can be attributed to a growing gas deficit resulting from declining domestic production by Egypt. However, Israel will struggle to ramp up exports further due to infrastructure limitations.