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Egypt targets up to $10B natural gas exports in FY 2022/23

Egypt targets up to $10B natural gas exports in FY 2022/23

ArabFinance: Egypt is seeking to export between $8.5 billion and $10 billion worth of natural gas during the fiscal year (FY) 2022/2023, the Minister of Petroleum and Mineral Resources Tarek El-Molla told Al-Arabiya on September 18th.

In the last FY, Egypt exported $6.5 billion worth of gas, El-Molla said.

He noted that the government is working on rationalizing electricity consumption to increase the amounts of natural gas available for exports.

The decline in temperature in September and October will support Egypt's efforts to save more of the natural gas supplied to power plants, which can be directed towards the liquefaction plants for export, El-Molla commented.

On September 17th, El-Molla stated that Egypt is targeting investments worth about $7.7 billion to $8 billion in the oil and gas sector.

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