BG Group
Amount owned by Egypt $900m
No one is making too many extravagant promises, BG Group having been a serial disappointment in the past, but there are signs of some sort of resolution to the problems it has suffered in Egypt.
Gas production in the country accounts for about 10 per cent of the group total, but it has been diverted away from exports through the company’s liquefied natural gas (LNG) terminal there and towards the domestic market, where it fetches a much lower price.
BG is owed $900 million for those earlier supplies, an improvement on the $1.6 billion that it was owed at one stage. An agreement signed by two state-owned companies at the weekend will see a $4 billion investment in