The Egyptian Federation of Investors Associations (EFIA) will prepare a proposal for the Ministry of Finance (MoF) in order to determine gas prices for manufactures through a new mechanism namely “gas dollar” that will be like the “custom dollar” set by the MoF, EFIA’s Head of Tax and Customs Committee, Sobhi Nasr, said to Youm7 newspaper.

The Ministry of Petroleum and the Egyptian Exchange have begun negotiations regarding the creation of a natural gas exchange market.

The Paper Manufacturing Division at the Egyptian Chamber of Chemical Industries asked the Ministry of Petroleum and the Ministry of Industry to double the amount of gas pumped for paper factories without increasing prices.

The Egyptian Government backed from its decision to cut the gas prices for iron and steel factories from $7 per 1m British Thermal Units (BTU) to $4.5 per 1mBTU.

Egypt will maintain the decision to reduce gas prices for steel factories that the government had planned to apply in September 2016.

The Egyptian Ministry of Petroleum increased petrol price early November in a move to alleviate fuel subsidy expenditure within the country's economic reform program. The government has implemented the new prices upon announcing the change.

The Egyptian Cabinethas authorized the application of reduced gas prices for the sector as of October, instead of September.

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 energy demand is met for all the sectors of the state.

Companies will pay more for gas from today (April 1), the National Oil and Gas Authority (Noga) announced yesterday.

National Iranian Gas Company (NIGC) has denied reports on negotiations with the United Arab Emirates’ Crescent Petroleum to revive a troubled gas export deal.