Kippreport gets insights from Mike Belk, CEO and president of Daimler Middle East and LevantMarch 26, 2015 12:02
Dana Gas says has not received payment for gas in Egypt
UAE energy firm Dana Gas has not yet received payment for gas delivered in Egypt, it said in a statement on Tuesday.
August 2, 2011 11:53 by Reuters
In May, Dana’s management reported delayed payments of $148 million for gas sales to the Egyptian government and said if these were not met it would impact on its future investments in the country.
An Egyptian official told Reuters last week Egypt had settled all its debts.
But Hany Elsharkawi, president of Dana Gas Egypt, said in a statement on Tuesday that the company is still awaiting the settlement of its overdue payments for the gas.
The delay in payments was a result of disagreements over
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