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 $350 million payment. This reduces the company's domestic receivables balance in Egypt to around $1.2 billion.

The payment is the result of the government of Egypt raising funds specifically to help repay debts to the oil and gas sector.
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.

About BG Group in Egypt

BG Group operates in Egypt through its wholly-owned subsidiary BG Egypt. The company is one of the largest producers of natural gas in Egypt spanning the gas chain from exploration through development and production to LNG. In 2013, Egypt contributed 18% of Group production.

About BG Group

BG Group plc (LSE: BG.L) is a world leader in natural gas, with a broad portfolio of business interests focused on exploration and production and liquefied natural gas. Active in more than 20 countries on five continents, BG Group combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves.