The Egyptian Ministry of Petroleum has finalized negotiations with Jordan to sign a deal for exporting around 250 million standard cubic feet per day (mscf/d) of gas to a Jordanian electricity-generating power plant, an official source at the ministry told Daily News Egypt.
Gas exports will start in 2019 as a new agreement will be signed with Jordan with new prices different from the original agreement.
According to the new agreement, Egypt will resume exporting natural gas to Jordan in early 2019 via the pipeline linking the two countries, said the source, adding that the agreement would help turning Egypt into an energy trade regional hub.
Egypt and Jordan had signed the original agreement in 2004 for a duration of 15 days in order to supply 250mscf/d of gas at a cost of $2.5 for 1 million thermal units. The Egyptian government then increased the prices in April 2012 to reach $5 per 1 million thermal units.
However, the natural gas line linking the two countries was bombed several times following the January 25 Revolution, which resulted in the halting of gas exports.