Following the commitment from the Egyptian government to repay outstanding debts to the energy industry, LNG player BG Group, has received a further payment equivalent to US$350 million.
This reduces the company’s domestic receivables balance in Egypt to around US$920 million, stands in the company’s statement.
While the company has been impacted by the reduction of LNG exports from Egypt, it continues to investigate options for increasing the supply of gas and is working with the government on resolving the outstanding receivable balance.
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Press Release; Image: BG Group