Dana Gas receives $48m from Egypt in June

Sharjah-based Dana Gas, a leading natural gas company in the Middle East, has received payments of $48 million (Dh177 million) from its operations in Egypt in June.

These collections comprise $38million in payments from the government (of which $30 million as Dana Gas’ share of the industry payment) and $10 million from the sale of the second El Wastani condensate shipment in 2019.

The industry payment is part of the Government’s ongoing efforts to reduce its overdue receivables position to zero by the end of2019. Since 2018 the company has continued to make steady progress in reducing its outstanding balance of overdue receivables, a statement said.