Town Gas announced that it has achieved revenues of EGP 3.2 billion in addition to a net profit worth more than EGP 72 million during 2022.

The announcement was made during the general assembly meeting of the company to approve its operational results for the year 2022.

During his presentation, Chairman of Town Gas Mohamed Fathy highlighted that natural gas deliveries have increased to 200,000 residential customers, 1,351 commercial customers, 51 bakeries in addition to 21 industrial customers in Cairo, Alexandria, and Port Said.

Also, Town Gas has connected natural gas to 167 gas Stations as part of the state’s initiative to increase the usage of natural gas as fuel. Moreover, the company contributed to the Haya Karima (“Decent Life”) initiative, connecting natural gas to 22 villages as well as delivering it to 16,000 housing units in the social housing project.

Additionally, the meeting showcased the latest developments of the customer service system and the application of new technologies to enhance efficiency as well as efforts to develop capacity building.

For his part, the Minister of Petroleum and Mineral Resources Tarek El Molla highlighted the role of the facilities provided by the government to make it easy for the citizens to connect natural gas to their units which helped increase local natural gas consumption while reducing butane imports.

He also praised the efforts of Town Gas in delivering natural gas and growing its business which reflected on its operational results.

At the end of the meeting, the parties agreed to increase the company’s capital to EGP 1 billion.