Saudi Arabia and Libya finance $200m gas shipments to Egypt amid energy crisis and output decline.

Saudi Arabia and Libya are aiding Egypt's energy crisis by financing gas shipments valued at $200 million amid a severe domestic production decline. Egypt requires about $2 billion for gas to meet summer demand through October but faces financial challenges due to a hard currency crisis. The nation's gas output has dropped to a six-year low, complicating efforts to stabilize its energy supply and manage its rising foreign debt of $154 billion.

September 02, 2024
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