PM: Egypt prioritises local gas supply for private sector

Egypt’s Prime Minister, Mosutafa Madbouly, announced plans to prioritise local gas supply for the domestic industrial sector, even as global gas prices remain elevated, according to the Cabinet statement.

Speaking at a meeting with investors, Madbouly said the government expects gradual recovery in gas production after economic challenges, enabling Egypt to meet both existing demand and expansion needs by 2025.

Madbouly highlighted the government’s strategy of selling locally-produced gas at below-market rates to support industries that generate added value for the economy, create jobs, and drive economic growth.

He acknowledged that exporting gas could provide higher revenues but reaffirmed the state’s commitment to strengthening domestic industries.

The meeting also featured key discussions on investor proposals and insights aimed at fostering economic development in Egypt.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama