Egypt has witnessed on Monday a ground-breaking spike in its natural gas export revenues, which have increased 13-fold over the past eight years, according to a report issued by the Cabinet’s Information and Decision Support Centre (IDSC).
Egypt’s natural gas and liquified natural gas (LNG) export revenues hit $8 billion in the fiscal year 2021/2022, up from $0.6 billion in 2013/2014, according to a report of Emirates News Agency WAM.
The Egyptian government has quadrupled its exports of LNG and natural gas over the last eight years from 1.9 million tonnes to 7.2 million tonnes. In the meantime, Egypt signed 108 agreements with international companies for the excavation of gas and petrol with a minimum investment value of $22 billion.
Egypt’s production has achieved 69.2 billion cu m in 2021/2022 compared with 41.6 billion cu m in 2015/2016, a growth of 66.3 percent, the report concluded.