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    Egypt's Gas Exports Declined 81% in September

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Summary

Egypt's natural gas exports in September declined 81.4 percent compared to the same period last year, Ahram Online reported Thursday citing data from the state-run Information and Decision Support Centre (IDSC).

by: shardul

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Egypt's Gas Exports Declined 81% in September

Egypt's natural gas exports in September declined 81.4 percent compared with the same period last year, Ahram Online reported Thursday citing data from the state-run Information and Decision Support Centre (IDSC).

The value of exports totaled $18.1 million, compared with $97.1 million in September 2013, the data showed.

Egyptian gas output has been falling in recent years amid rising domestic demand resulting in decline in exports.

"There have been no new concessions in the period from 2010 to 2013, which resulted in decreasing exploration areas to only 27 blocks during 2013, down from 53 in 2010," the minister of petroleum, Sherif Ismail, said earlier this week.

Exploration activities has considerably slowed down due to government’s mounting debts to foreign oil and gas companies following the 2011 uprising that toppled President Hosni Mubarak, Ahram Online said.

 

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