Friday 2 January 2015

Egypt pays another $350m towards energy debt

Natural gas company BG Group has received a further $350 million (£226m) from the Egyptian Government.

Egypt said in October it would commit to repaying outstanding debts owed to the energy industry, ELN reported.

The latest payment brings the money owed to BG Group down to $920m (£595m).

The company has been impacted by the reduction of LNG exports from Egypt and is working with the Egyptian Government on resolving the outstanding balance.