Modern Gas, an Egyptian joint-stock company, recorded a net profit of EGP 209 million during fiscal year (FY) 2025, yielding a 49.6% year-on-year (YoY) growth rate, according to Wael Gowayed, the company’s Chairman. He reported the figures during the General Assembly convened via videoconference, noting that revenues reached EGP 4.169 billion, a 14% increase compared to 2024.
The meeting was attended by Karim Badawi, Minister of Petroleum and Mineral Resources, who praised the company’s role in executing the state’s plan to expand natural gas connections. Badawi directed the company to increase local manufacturing and rationalize the use of imported components to reduce the national import bill. He further urged the company to fast-track its expansion across Arab and African markets, describing its workforce as “ambassadors of the sector.”
Gowayed reported that Modern Gas has expanded its customer base to over 1.7 million residential units across 10 governorates. Furthermore, the company achieved a 100% completion rate for Haya Karima projects in Sharqia, Qena, Sohag, and Ismailia, connecting more than 190 villages to the natural gas network.
On the international front, Modern Gas bolstered its regional presence by securing a contract for the “Banan” city project in Riyadh, Saudi Arabia. The project aims to supply natural gas to approximately 22,600 residential units under a 33-year concession. Additionally, the company executed projects in the UAE with a total value of AED 11.8 million.
Regarding human capital and safety, the company provided more than 1,600 training opportunities in 2025, with a target of 4,000 in 2026. Looking ahead, Modern Gas aims to double its revenues to EGP 8 billion over the next five years, supported by a capital increase from EGP 300 million to EGP 1 billion to reinforce its local and international expansion strategy.
Modern Gas provides integrated services across the natural gas value chain, specializing in the engineering, management, and maintenance of natural gas networks and pressure reduction stations (PRS). The company’s ownership structure is comprised of several state-owned entities, led by the Egyptian Natural Gas Company (GASCO) with 28%, the Petroleum Projects and Technical Consultations Company (PETROJET) (27%), Town Gas (21%), South Valley Egyptian Petroleum Holding (Ganope) (8%), and 4% each for Engineering for the Petroleum and Process Industries (Enppi), Sianco, Egyptian Natural Gas Holding (EGAS), and Petrotrade.
