{"id":555063,"date":"2021-11-01T03:50:19","date_gmt":"2021-11-01T03:50:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-could-liberalize-gas-prices-for-factories-lebanon-gas-shipments-to-start-later-this-year\/"},"modified":"2021-11-01T03:50:19","modified_gmt":"2021-11-01T03:50:19","slug":"egypt-could-liberalize-gas-prices-for-factories-lebanon-gas-shipments-to-start-later-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-could-liberalize-gas-prices-for-factories-lebanon-gas-shipments-to-start-later-this-year\/","title":{"rendered":"Egypt could liberalize gas prices for factories + Lebanon gas shipments to start later this year"},"content":{"rendered":"

<\/a> Factories could see the prices they pay for natural gas change every 3-4 <\/strong>months <\/strong>if the government follows through on proposals to liberalize the market announced by Oil Minister Tarek El Molla yesterday. Policymakers are considering extending the automatic pricing mechanism currently in place for petroleum products to gas supplied to the industrial sector, the minister told Asharq Business (watch, runtime: 3:17<\/a>).<\/p>\n

The announcement comes on the heels of a price hike<\/strong> that from this month will see factories pay up to 28% more<\/a> for natural gas. Cement, iron and steel, and petrochemicals and fertilizers producers will now pay USD 5.75 \/ mmBtu, up from USD 4.50 \/ mmBtu, while other industries will see a 21% rise to USD 4.75 \/ mmBtu.<\/p>\n

The <\/strong>fuel pricing mechanism<\/a><\/strong>: <\/strong>The government currently reviews local prices of petroleum products every quarter and raises or lowers them by up to 10% according to price fluctuations in the international market.<\/p>\n

The pricing committee has hiked fuel prices three times this year<\/strong> as international oil and gas prices have risen. Car owners are now paying up to 12% more<\/a> for fuel than they were at the beginning of the year after the government hiked the prices of all fuel grades by 0.75.<\/p>\n

Gas prices have surged worldwide this year<\/strong>, creating something of a global energy crisis that\u2019s being driven by rising post-lockdown demand in Asia, tightening supply, and the near-suspension of exploration and development work in 2020 at the height of the pandemic. Natural gas to heat homes now costs European consumers, for example, about 5x what it did a year ago<\/a>, and the crunch could get worse as fall gives way to winter.<\/p>\n

IN OTHER ENERGY NEWS-<\/strong><\/p>\n

Egypt plans to start exporting natural gas to Lebanon by the end of the<\/strong> year<\/strong>, El Molla told CNBC Arabia<\/a> yesterday. An agreement<\/a> between Egypt, Lebanon, Jordan and Syria last month paved the way for Egypt to send emergency gas supplies to Lebanon, which is suffering crippling power shortages amid a severe economic and financial crisis. The four countries agreed to bring online the Arab Gas Pipeline connecting Egypt to Lebanon via Jordan and Syria, which will be used to feed a power plant in the north of the country.<\/p>\n

CORRECTED ON MON, 1 NOVEMBER<\/em><\/p>\n

Corrected to say Egypt is exporting natural gas, rather than liquefied natural gas.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Factories could see the prices they pay for natural gas change every 3-4 months if the government follows through on proposals to liberalize the market announced by Oil Minister Tarek El Molla yesterday. Policymakers are considering extending the automatic pricing mechanism currently in place for petroleum products to gas supplied to the industrial sector, the […]<\/p>\n","protected":false},"author":1,"featured_media":555064,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[168,93,72,1033,108,91,371,433,195],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-diplomacy","tag-energy","tag-enterpriseam","tag-jordan","tag-lebanon","tag-oil-and-gas","tag-oil-ministry","tag-syria","tag-tarek-el-molla","wpautop","entry"],"acf":{"mongo_id":"a808ab85-a831-4d56-9377-c799e5e29d18","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/269.jpg","photo_position":"above","related_issue":[555057],"teaser":"","voice_url":""},"yoast_head":"\nEgypt could liberalize gas prices for factories + Lebanon gas shipments to start later this year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-could-liberalize-gas-prices-for-factories-lebanon-gas-shipments-to-start-later-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt could liberalize gas prices for factories + Lebanon gas shipments to start later this year\" \/>\n<meta property=\"og:description\" content=\"Factories could see the prices they pay for natural gas change every 3-4 months if the government follows through on proposals to liberalize the market announced by Oil Minister Tarek El Molla yesterday. 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Industry figures are particularly unhappy about local gas prices remaining above international\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/235.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546487,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/18\/rising-oil-import-prices-could-cancel-out-gas-export-gains-el-molla\/","url_meta":{"origin":555063,"position":1},"title":"Rising oil import prices could cancel out gas export gains -El Molla","author":"enterpriseam admin","date":"18 May 2022","format":false,"excerpt":"Egypt\u2019s rising oil import bill could cancel out any gains from higher gas export revenues this year, Oil Minister Tarek El Molla told CNBC Arabia yesterday (watch, runtime: 11:49). \u201cIt\u2019s possible that the extra [income] we get from our gas exports could be canceled out by the increase in the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567514,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/doubt-cast-on-oil-ministry-lng-sales-strategy\/","url_meta":{"origin":555063,"position":2},"title":"Doubt cast on Oil Ministry LNG sales strategy","author":"enterpriseam admin","date":"26 January 2020","format":false,"excerpt":"Analysts have cast doubt on Egypt\u2019s ability to sell liquefied natural gas (LNG) for USD 5 per mn British thermal units under long-term agreements, according to S&P Global Platts. Oil Minister Tarek El Molla last week announced plans to sell gas at USD 5\/mmBtu under renewable long-term agreements instead of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/692.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569466,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/25\/egyptian-union-for-investors-association-calls-on-the-government-to-liberalize-energy-markets\/","url_meta":{"origin":555063,"position":3},"title":"Egyptian Union for Investors Association calls on the government to liberalize energy markets","author":"enterpriseam admin","date":"25 February 2020","format":false,"excerpt":"Investors lobby gov\u2019t to liberalize energy market for manufacturers: Industry is looking to push the government to liberalize the energy market for factories, head of the Egyptian Businessmen\u2019s Association\u2019s (EBA) energy division Osama Guindy tells the local press. The division has sent formal requests to the energy and oil ministries\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600558,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/03\/lebanon-hopes-to-resume-natural-gas-imports-from-egypt\/","url_meta":{"origin":555063,"position":4},"title":"Lebanon hopes to resume natural gas imports from Egypt","author":"enterpriseam admin","date":"3 February 2019","format":false,"excerpt":"Lebanon is hoping to once again import natural gas from Egypt under the terms of a 2009 gas supply contract, Lebanese Energy Minister Cesar Abi Khalil said at a meeting on Thursday with Oil Minister Tarek El Molla, according to a ministry statement. Khalil did not provide a time frame\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621664,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/el-molla-meets-ioc-heads-energy-ministers-to-discuss-increasing-investments\/","url_meta":{"origin":555063,"position":5},"title":"El Molla meets IOC heads, energy ministers to discuss increasing investments","author":"enterpriseam admin","date":"14 November 2018","format":false,"excerpt":"Oil Minister Tarek El Molla met yesterday with Saudi Arabia\u2019s Energy Minister Khalid Al-Falih to discuss cooperation prospects between Saudi and Egypt in the mining industry, particularly as Egypt is pushing through with amendments to the Mineral Resources Act, according to a ministry statement (pdf). El Molla also met with\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555063"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555063\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555064"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555063"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555063"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}