Minister of Finance Mohamed Maait said that Egypt aims to increase its earnings from natural gas exports to $1 billion during the upcoming period noting that currently it gets about $500 million monthly from natural gas exports, Reuters reported.

Maait’s remarks came during a Bloomberg forum. This came in the light of Egypt’s plan to expand its exports of natural gas to generate foreign currency revenue to mitigate the financial pressure the country is facing due to the Russia-Ukraine war.

Previously, Minister of Petroleum and Mineral Resources Tarek El Molla stated that Egypt aims to export $8.5 to $10 billion worth of natural gas during the fiscal year 2022/23.