Prime Minister Mostafa Madbouly has issued Resolution No. 3574 of 2022 setting the selling price of natural gas supplied to the cement industry at $12 per million British thermal units (MMBtu).
The decision included in its second article, setting the selling price of natural gas supplied to the petrochemical industry (for the production of ethane and propane mixture), so that the minimum amount is not less than $4.50 per 1 MMBtu. The third article included setting the selling price of natural gas supplied to other petrochemical customers at $5.75 per 1 MMBtu.
Additionally, the fourth article of the decision stipulates that the selling price of natural gas supplied to brick kilns is set at EGP 110 per 1 MMBtu. Meanwhile, the fifth article of the decision indicated that this decision does not apply to consumers who are charged according to price equations included in the contracts for the supply of natural gas concluded with them, and they continue to be held accountable with the same price equations mentioned in the contracts concluded with them.
The sixth article of the decision stated that the Egyptian General Petroleum Corporation (EGPC) determines the selling prices of natural gas supplied to the petrochemical industry (for the production of ethane and propane mixture) according to the specific mechanism specified in Article Two of this decree on a monthly basis.
The seventh article stated that, with the exception of the provisions of this decision, the natural gas selling prices mentioned in Prime Minister’s Resolution No. 2902 for the year 2021, and 3221 for the year 2022 and the third article of the Prime Minister’s decision No. 744 for the year 2020, will continue, while the eighth article included a reference that the Prime Minister’s Decision No. 745 of 2020 shall be repealed.
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