Cairo – Mubasher: The Egyptian Union for Investors Associations (EUIA) will hold a meeting in a few days with Egypt’s minister of petroleum and mineral resources Tarek El-Molla to discuss the repricing of natural gas directed to factories, according to Almal News.
An official source at the Egyptian Natural Gas Holding Company (EGAS) discarded the possibility of lowering the prices of natural gas for the industrial sector and Egypt’s current independence on imported gas, with an average price exceeding $7 per thermal unit.
The source added that purchasing natural gas from firms operating in Egypt at high prices that reach $6 in some deals is another reason for the repricing elimination.
Egypt imports 1 billion square feet of natural gas per day through bids offered by the EGAS.
