Prime Minister Mustafa Madboly announced that the Egyptian Cabinet approved the recommendations of the Ministerial Committee to re-price natural gas for some industries on September 30, 2019, according to the Cabinet’s Facebook page.
The natural gas price for the cement industry becomes $6 per million British Thermal Unit (BTU), up from $4 per million BTU, and $5.5 per million BTU, down from $7 per million BTU, for the iron and steel, aluminum, copper, ceramics, and porcelain industries.
For other industries, the Prime Minister noted that they will work according to the natural gas prices stated in the Cabinet’s decisions number 1162 for 2014, 1685 for 2014, 1021 for 2015, 1556 for 2019, and 1557 for 2019.
Moreover, Madboly pointed out that the natural gas prices for industries will be reviewed every six months, according to global changes in natural gas prices, as well as economic and social changes.
The Cabinet held the meeting to review the natural gas pricing for different industrial activities, according to the economic, environmental, political, and social framework of the local market.