November 24, 2021

Egypt exports 1m tons of LNG in third quarter of 2021

RIYADH: Egypt’s surpassed its Arab neighbors in natural gas exports during the third quarter of 2021, the country’s minister of petroleum and mineral resources said on Tuesday.

The country exported 1 million tons of liquefied natural gas, Tarek Al-Mulla said.
He said the oil and gas sector contributed 24 percent to the country’s gross domestic product in 2019-2020 despite the pandemic. Before the pandemic, the sector’s contribution to the GDP was recorded at around 27 percent in 2018-2019.

A surplus, equivalent to about EGP9.5 billion ($604 million), in the petroleum balance of payments was reached during 2020-2021, compared to a surplus of EGP9.9 billion in 2018-2019, Al-Mulla said.t.


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