Thursday 09 february 2023 - 8:24:05 am

Gas export revenues up 13-fold in 8 years: Egyptian Cabinet report

CAIRO, 25th September, 2022 (WAM) -- Egypt has seen an unprecedented leap in its natural gas export revenues, which have increased 13-fold over the past eight years, according to a report issued on Sunday the Cabinet’s Information and Decision Support Centre (IDSC).

Egypt’s natural gas and liquified natural gas (LNG) export revenues reached $8 billion in the fiscal year 2021/2022, up from $0.6 billion in 2013/2014, according to the report.

Egypt has quadrupled its exports of LNG and natural gas over the past eight years from 1.9 million tonnes to 7.2 million tonnes. In the same period, Egypt signed 108 agreements with international companies for the excavation of gas and petrol with a minimum investment value of $22 billion.

Egypt’s production has reached 69.2 billion m3 in 2021/2022 compared to 41.6 billion m3 in 2015/2016, a growth of 66.3 percent, the report read.

WAM/Hatem Mohamed