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Friday, April 26, 2024 17:34 GMT
Egypt’s exports of natural gas increased during the current year by 14.28% to reach 8 million tons, compared to 7 million tons in 2021, according to the data released by the Ministry of Petroleum and Mineral Resources. The ministry said that gas export revenues jumped by 171% in 2022 to reach US$8.4 billion, compared to about US$3.5 billion last year, due to the increase in liquefied natural gas export prices globally.The leap in Egypt’s revenues from natural gas sales was attributed to higher liquefied natural gas (LNG) exporting prices globally. The ministry stressed that the petroleum sector succeeded in investing in the government’s plan, which was approved last August to rationalise power usage to save additional quantities for export so as to benefit from the increasing prices of LNG internationally.