The Egyptian Natural Gas Holding Company (EGAS) has said it requested EGP30 billion from the Finance Ministry for the 2015-2016 fiscal year to finance the purchase of liquefied natural gas.
Investors have confirmed that the decline in the power supply to factories was the most prominent reason for the decline in exports of energy-intensive industries during the first quarter of this year.
The total volume of Egypt's investments projected for the drilling and extracting natural gas has reached US$13 billion, the first undersecretary of the Egyptian oil ministry Shrief Sosa said
Saudi Arabia-based power and water project developer ACWA Power announced Sunday it signed concession contracts with the Egyptian Ministry of Electricity to build three renewable energy power plants in Egypt.