Energy Egypt expects to double monthly income from natural gas to $1bn By Reuters September 23, 2022, 6:54 AM Reuters/Albert Gea Egypt faces rising domestic gas demand and has been trying to save gas for export Egypt is earning about $500 million monthly from natural gas exports and aims to raise that figure to $1 billion “in the coming period,” Finance Minister Mohamed Maait said in a statement on Thursday. The statement, based on comments by Maait at a Bloomberg forum, gave no comparative figures on what Egypt had been earning previously. Egypt has been pushing to maximise its exports of natural gas to generate foreign currency revenue after coming under financial pressure due to the impact of the war in Ukraine. Egypt exported 8.9 billion cubic metres (bcm) of liquefied natural gas last year and 4.7 bcm in the first five months of 2022, according to Refinitiv Eikon data. The government says gas exports have been boosted after the it introduced an electricity rationing plan in August. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
