State owned Egypt Gas company, an affiliate of the Egyptian Natural Gas Holding Company (EGAS), recorded losses of EGP 48.6m ($6.2m) during the first 6 months of 2015, in comparison to the recorded profits of EGP 25.26m ($3.2m) during the same periodin 2015, reported Daily News Egypt. According to Egypt Gas statements, the company had EGP 17.3m ($2.2m) in net losses over the first quarter (Q1) of 2015, from January to March, whereas it recorded EGP 73.1m ($9.5m) in profits during the same period last year. Revenues from the company’s activities have reached EGP 544.68m, in comparison to EGP 290.1m during the same period in 2014. in 2013 Egypt Gas recorded a profit of  EGP 99.6m, a clear sign of a downward slop during the past two years.

Egypt Gas has a wide scope of services covering all elements of design and engineering to enable natural gas distribution through pipeline and underground networks from the main gas grid to consumption areas.