Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt's Gas Exports Hit $8.5 Billion- Minister

Wed 11 Jan 2023 | 08:06 PM
Taarek Refaat

Tarek El-Molla, Minister of Petroleum and Mineral Resources, revealed that last year witnessed the export of about 8 million tons of liquefied gas, with revenues ranging between $8-8.5 billion.

On the sidelines of the International Mining Conference in Riyadh, the minister said that gas export revenues are linked to different prices and change according to the seasons of the year.

He continued, "During the summer, liquefied gas prices rose significantly, and then fell back after that."

He said that there are efforts to maximize Egypt's gas exports through 3 main axes, the first of which is increasing production, and the second is rationalizing consumption, as well as increasing imports from eastern Mediterranean countries, with the aim of operating liquefaction stations in Egypt to their full capacity.

He indicated that Egypt is strengthening its communication with major global mining investors, in implementation of a deliberate approach to intensively promote investment opportunities and mining advantages in Egypt, which the ministry is working on within the framework of a road map to develop and modernize this sector and make the necessary reforms to push it forward.