Egyptian Natural Gas Holding Company (EGAS) has concluded a study to raise the prices of natural gas supplied to factories in Egypt by 10% to 30%, with the exact percentage varying by industry and consumption, two government sources told Asharq Business.

Set to be submitted to the cabinet, this study excluded factories that contracted with EGAS for natural gas purchases based on a variable pricing model, one source said.

The study determined the cost of 1 million thermal units of natural gas pumped into Egyptian factories at about $6, based on production and import rates of the past fiscal year (FY), the other source noted.

However, the study showed that this cost will increase during the current FY due to the country's increased gas import rates.

It is worth mentioning that the industrial sector’s total natural gas needs are estimated at 2.1 billion cubic feet daily, securing gas now at a price ranging from $4.75 to $5.75 per 1 million thermal units.

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