{"id":625795,"date":"2018-08-15T04:11:48","date_gmt":"2018-08-15T04:11:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/"},"modified":"2018-08-15T04:11:48","modified_gmt":"2018-08-15T04:11:48","slug":"dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/","title":{"rendered":"Dana Gas says fresh investments in Egypt delayed over unpaid arrears"},"content":{"rendered":"

<\/a> Dana Gas says fresh investments in Egypt delayed over unpaid arrears:<\/strong> Egypt\u2019s irregular repayments of its arrears to Dana Gas is putting a damper on the company\u2019s investment plans in the country, the company said in its earnings release yesterday (pdf)<\/a>. \u201cDue to the lack of regular and predictable payment the Company will continue its strategy of balancing its investments in Egypt against its collections in the near term,\u201d according to the release.<\/p>\n

Egypt repaid the company USD 89 mn in overdue arrears in 1H2018<\/strong>, bringing its total trade receivables from Egypt reached USD 202 mn as of 30 June 2018. This includes USD 120 mn which is overdue, according to S&P Global<\/a>.<\/p>\n

Dana Gas is not planning to take legal action against Egypt<\/strong> but is \u201cin discussion with the government to make it clear to them that the sooner they pay us the sooner we would reinvest the money back into Egypt,\u201d Dana Gas CEO Patrick Allman-Ward told reporters yesterday, according to The National<\/a>. There is no dispute between Egypt and the company, and the issue \u201cis about [Egypt\u2019s] capacity to pay,\u201d he added. Allman-Ward had previously said<\/a> that his company would spend USD 47 mn in capex in Egypt this year, \u201cbut any new investments will be made only if the country pays some of the money it owes.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Dana Gas says fresh investments in Egypt delayed over unpaid arrears: Egypt\u2019s irregular repayments of its arrears to Dana Gas is putting a damper on the company\u2019s investment plans in the country, the company said in its earnings release yesterday (pdf). \u201cDue to the lack of regular and predictable payment the Company will continue its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625795","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6185d1c0-8729-47d8-8bfb-037b35b2ba46","order":"0","is_powered_by":true,"section_story_id":"00dab88b-7533-4544-86db-bfcb472df184","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625785],"teaser":"","voice_url":""},"yoast_head":"\nDana Gas says fresh investments in Egypt delayed over unpaid arrears - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dana Gas says fresh investments in Egypt delayed over unpaid arrears\" \/>\n<meta property=\"og:description\" content=\"Dana Gas says fresh investments in Egypt delayed over unpaid arrears: Egypt\u2019s irregular repayments of its arrears to Dana Gas is putting a damper on the company\u2019s investment plans in the country, the company said in its earnings release yesterday (pdf). \u201cDue to the lack of regular and predictable payment the Company will continue its […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-15T04:11:48+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Dana Gas says fresh investments in Egypt delayed over unpaid arrears\",\"datePublished\":\"2018-08-15T04:11:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/\"},\"wordCount\":230,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/15\/dana-gas-says-fresh-investments-in-egypt-delayed-over-unpaid-arrears\/\",\"name\":\"Dana Gas says fresh investments in Egypt delayed over unpaid arrears - 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The Emirati company\u2019s total revenues from its month\u2019s operations in Egypt reached USD 48 mn as it has also made USD 10 mn from selling natural gas condensate. 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Dana Gas also received an additional USD 9.3 mn from condensate sales. The payments have brought arrears owed to the company to their \u201clowest since\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646236,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/08\/dana-gas-receives-usd-40-mn-in-arrears-from-egypt\/","url_meta":{"origin":625795,"position":3},"title":"Dana Gas receives USD 40 mn in arrears from Egypt","author":"enterpriseam admin","date":"8 June 2017","format":false,"excerpt":"Egypt repaid Dana Gas USD 40 mn that were overdue, CEO Patrick Allman-Ward announced. The payment, which came as part of the USD 750 mn Egypt paid IOCs, brings repaid debts by Egypt to Dana Gas in 2017 to USD 135 mn. 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