Dana Gas: Egypt payment not received

UAE energy firm Dana Gas has not yet received payment for gas delivered in Egypt, it said in a statement. 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 said last week that 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 the interpretation of certain production sharing agreement clauses, the statement said. From / Gulf Today