Egypt pays BG $350 million for gas supply arrears

摘要

The Egyptian government has paid the BG Group $350 million in past payment to clear its outstanding debts for gas supplies from the producer. The payment follows a commitment by the new Egyptian government, headed by President Abdel-Fattah el-Sisi, to repay outstanding debts to international companies operating in Egypt’s energy sector. Cairo recently raised funds specifically to repay debts to oil and gas producers. BG said its domestic receivables balance in Egypt had shrunk to about $1.2 billion fol- lowing the recent payment.