The Egyptian General Petroleum Corporation (EGPC) is expected to export 12 million tons of natural gas worth US$2 billion (LE 36 billion) during the upcoming fiscal year 2019-2020, an EGPC official said before the parliament on Tuesday.
During the meeting of the Energy and Environment Committee of the House of Representatives, EGPC representative Ayman Othman said that 4 million tons of natural gas worth US$589 million (LE10 billion) were exported during the fiscal year 2018-2019.
The Energy and Environment Committee approved on Tuesday the draft budget for the oil sector for fiscal year 2019-2020. The Committee recommended that a detailed budget should be prepared later, including actual figures for the sector.
Othman reviewed the details of the plan for EGPC during the new financial year. He pointed out that the natural gas production sector has witnessed a boom recently.
“The total money contributed from EGPC to the State Treasury during the new fiscal year will reach LE91.3 billion,” Othman said.
Edited translation from Al-Masry Al-Youm