BG Receives $350 Million Payment from Egypt

Friday, January 2, 2015

BG Group was one of the lucky foreign operators to receive a payment from the Egyptian government on its outstanding debt. BG received a payment equivalent to $350 million.

This reduces the company’s domestic receivables balance in Egypt to around $920 million.

BG says that while it has been impacted by the reduction of LNG exports from Egypt, it continues to investigate options for increasing the supply of gas and is working with the government on resolving the outstanding receivable balance.

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