Egypt depends on foreign funds to buy gas as power crisis worsens- Reuters Exclusive

According to an exclusive report by Reuters Saudi Arabia and Libya have financed the purchase of gas cargoes worth at least $200 million to help Egypt ease its energy crisis this summer amid a steep decline in domestic gas output, two industry sources familiar with the matter said.

Egypt needs some $2 billion worth of gas to cover summer demand through October, according to one of the two sources familiar with the government's plan, but a hard currency crisis means it lacks funds to fully cover imports of liquefied natural gas.