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Egypt’s natural gas shipments surge to reach USD8.4B this year
(MENAFN) Egypt stated on Wednesday that its natural gas shipments saw a rise of 14.3 percent this year to amount to USD8.4 billion.
In an announcement, the Ministry of Petroleum and Mineral Resources stated that Egypt shipped 8 million tons of natural gas this year, rising from nearly 7 million tons in 2021.
Last year, Egypt gained USD3.5 billion from its gas shipment.
The jump in the Arab nation’s incomes from natural gas sales was credited to additional liquefied natural gas (LNG) costs internationally.
Egypt reached self-sufficiency in gas 4 years ago (2018), with a yearly average of 64 billion cubic meters.
“The petroleum sector succeeded in investing in the government's plan to rationalize electricity consumption to provide additional quantities of gas for exports,” the ministry stated.
Previous August, the Egyptian administration agreed on a strategy to cut gas and electricity intake, in an attempt to supply enough volumes for shipments to Europe.
In an announcement, the Ministry of Petroleum and Mineral Resources stated that Egypt shipped 8 million tons of natural gas this year, rising from nearly 7 million tons in 2021.
Last year, Egypt gained USD3.5 billion from its gas shipment.
The jump in the Arab nation’s incomes from natural gas sales was credited to additional liquefied natural gas (LNG) costs internationally.
Egypt reached self-sufficiency in gas 4 years ago (2018), with a yearly average of 64 billion cubic meters.
“The petroleum sector succeeded in investing in the government's plan to rationalize electricity consumption to provide additional quantities of gas for exports,” the ministry stated.
Previous August, the Egyptian administration agreed on a strategy to cut gas and electricity intake, in an attempt to supply enough volumes for shipments to Europe.
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