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Egypt’s energy sector expected to generate over US19 billions in revenues

Egypt is expected to generate alot of revenue from the energy sector in 2022.

Predictions are to be exceeding US$19 billion more than half of it from the gas sector, Petroleum Minister Tarek al-Mulla said in an exclusive interview with Sky News Arabia, on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2022).

Mulla also expects that the country’s gas revenues this year would reach about $12 billion.

Egypt’s exports of liquefied gas in 2021 reached 6.5 million tons, he said, adding that gas exports will decline in the summer season, but rise in the winter season.

Mulla explained that gas liquefaction stations operate at full capacity in the winter, referring to potentials that could be exploited in the summer.

This is to liquefy gas and increase exports, by bringing in gas from neighboring countries.

Liquefying and exporting  and in turn enhancing local production and also to work and develop on rationalizing energy consumption domestically.

Mulla ruled out that the risks of recession in the world will affect the investment flows of the Egyptian energy sector.

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