Egypt Reports $500 Million Monthly Income from Natural Gas Exports
(Reuters) — 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 maximize 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 meters (Bcm) of LNG 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.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Another Major U.S. Oil Refinery Shutting Down as Lyondell Confirms Houston Closure
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- Polish Pipeline Operator Offers Firm Capacity to Transport Gas to Ukraine in 2025
- Macquarie, Dow Launch $2.4 Billion Gulf Coast Pipeline Infrastructure Partnership
Comments