Egypt’s Minister of Petroleum and Mineral Resources has indicated that the government is seeking to export between US$8.5bn and US$10bn worth of natural gas in the fiscal year 2022/23.
The minister added that the government is working on rationalising electricity consumption to increase the amount of natural gas for export. The decline in temperature in September and October is seen as supporting Egypt’s efforts to save more of the natural gas supplied to power plants, which can be directed towards the liquefaction plants for export. The belt-tightening is a sign of the lengths Egypt is going to to earn more hard currency as it copes with the effects of the war in Ukraine.
