Egypt has edged out its Arab neighbors in natural gas exports and exported one million tons of liquefied natural gas during the third quarter of 2021, the country’s minister of petroleum and mineral resources revealed.
The oil and gas sector contributed 24 percent to the country’s gross domestic product in 2019-2020 despite the pandemic. Before the pandemic, the sector’s contribution to the GDP was recorded at around 27 percent in 2018-2019.
A surplus, equivalent to about EGP9.5 billion ($604 million), in the petroleum balance of payments was reached during 2020-2021, compared to a surplus of EGP9.9 billion in 2018-2019, Tarek Al-Mulla said.