Egypt’s Modern Gas expands in Saudi Arabia, UAE as profits rise in 2025
Egypt’s state-run Modern Gas is expanding its presence in Saudi Arabia and the United Arab Emirates while accelerating domestic natural gas connections under the government’s Hayah Kareema (Decent Life) rural development programme, the Petroleum Ministry said Sunday.
Petroleum Minister Karim Badawy said the company plays a key role in extending natural gas services to governorates within its concession areas. He praised its implementation of Hayah Kareema Initiative, under which gas has been delivered to more than 190 villages.
He also called for increased localisation in manufacturing for gas connection projects and reduced reliance on imports to help narrow Egypt’s import bill.
Badawy highlighted Modern Gas’s growing international activity, describing its staff as “ambassadors of the sector,” and said the ministry would support further expansion in Arab and African markets. He also instructed the company to prepare an urgent expansion plan and scale up training programmes.
The remarks came during the company’s general assembly, where Chairman Wael Gowayed said Modern Gas posted a net profit of 209 million Egyptian pounds for the year ended 31 December, 2025, up 49.6 per cent year-on-year. Revenues rose 14 per cent to 4.169 billion pounds.
Gowayed said the company now serves more than 1.7 million residential units across 10 governorates, reflecting continued expansion of its distribution network.
He said Modern Gas has completed its Hayah Kareema projects in Sharqia, Qena, Sohag, and Ismailia, achieving full completion in those governorates.
The company also plans to upgrade customer service centres across its concession areas to improve service quality.
On international operations, Gowayed said Modern Gas secured a contract in Riyadh for the Banan city project to supply gas to about 22,600 residential units under a 33-year concession. It has also executed projects in the UAE worth 11.8 million dirhams.
The company said it provided more than 1,600 training opportunities in 2025, with plans to raise that to 4,000 in 2026 as part of a wider workforce development programme focused on safety and efficiency.
Modern Gas outlined a five-year strategy to double revenues to 8 billion pounds, supported by a planned increase in paid-up capital from 300 million to 1 billion pounds to finance domestic and international expansion.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser