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December 3, 2023
Business

Egyptian Cabinet reports 13-fold increase in gas export revenue

Over the past eight years, Egypt’s natural gas export revenues have increased 13-fold, according to a report released by the Cabinet’s Information and Decision Support Centre (IDSC). According to the report, Egypt’s natural gas and liquefied natural gas (LNG) export revenues reached $8 billion in fiscal year 2021/2022, up from $0.6 billion in 2013/2014.

Egyptian Cabinet reports 13-fold increase in gas export revenueSince 2008, Egypt has quadrupled its LNG and natural gas exports from 1.9 million tonnes to 7.2 million tonnes. Egypt signed 108 agreements with international companies for the excavation of gas and petrol with a minimum investment value of $22 billion during the same period. According to the report, Egypt’s production reached 69.2 billion m3 in 2021/2022, up from 41.6 billion m3 in 2015/2016, a growth of 66.3 percent.

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