Egyptian government pays US$350 million to BG Group
Following the commitment from the Egyptian government to repay outstanding debts to the energy industry, BG Group plc, a world leader in exploration and LNG, has received a further payment equivalent to US$350 million. This reduces the company's domestic receivables balance in Egypt to around US$920 million.
While the group has been impacted by the reduction of LNG exports from Egypt, the company continues to investigate options for increasing the supply of gas and is working with the government on resolving the outstanding receivable balance.
Adapted from press release
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02012015/egyptian-government-pays-million-bg-group-16/
You might also like
Hydrocarbon Engineering Podcast
Susan Bell, Senior Vice President within Commodity Markets – Oil, Rystad Energy, discusses the impact of trade wars on global oil demand and oil prices, in light of President Trump’s ‘Liberation Day’ tariffs.
Hydrocarbon Engineering Spotlight with Honeywell Process Solutions
Omar Sayeed and Rahul Negi, Honeywell Process Solutions, join us to consider how new, innovative technology can help to overcome some of the challenges facing the downstream oil and gas sector.
