The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the Egyptian General Petroleum Corporation (EGPC) gives priority to reforms within the gas market, in order to guarantee that demands are met for all the sectors of the state, reported Amwal Al Ghad.

Aligning with the ministry’s efforts to liberalize the gas market, the Egyptian Natural Gas Holding Co. (EGAS) will create a gas regulating body, with the aim of encouraging private investors coming to the market.

The ministry has postponed the decision on gas selling prices to factories until a study to assess local prices is completed and   presented to the prime minister. However, a source stated to Al Shorouk newspaper that the Egyptian government is planning to increase petroleum prices for energy intensive factories in order to secure the IMF delegation’s consent with intended $12b loan.