The Administrative Supreme Court’s State Commissioners Body has upheld the Administrative Judiciary Court’s previous ruling canceling the government’s decision to export the Egyptian “subsidized” natural gas to a number of foreign countries, including Israel.
In its report to the Administrative Supreme Court, the body said the government’s decision has been wasting millions of pounds from the public fund. In addition, it does harm to the public interest, so it should be cancelled, especially as the market prices are on the increase.
After receiving the report, the Administrative Supreme Court decided to consider it next October 6 in order to have enough time to study the case along with the argument of the defense.
On the other hand, the Jordanian Egyptian Fajr Natural Gas Transmission and Supply Company will enter into a new round of negotiations with the Jordanian Ministry of Energy to increase the fees for the transfer of the Egyptian natural gas to the Jordanian territories.
A senior official at the company said the negotiations aim to increase the returns and reduce the increasing burden of the interests of loans the company got from banks to carry out the project of transporting natural gas to Jordan under the B.O.T System. The project’s second phase cost some $300 million.
The Egyptian Minister of Finance Youssef Boutros-Ghali and Rashid Mohamed Rashid, Minister of Trade and Industry managed last year to persuade the Jordanian side to increase the price of natural gas to $4.5 per MMBtu.
But the Jordan side refused to increase the price of the quantities of natural gas that were agreed upon in 2001. These quantities are exported for $1 per MMBtu, plus $0.5 for transport and delivery by Al-Fajr Co.