{"id":560116,"date":"2021-02-16T03:34:01","date_gmt":"2021-02-16T03:34:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/magic-sauce-for-industry-lower-natgas-costs-new-legislation\/"},"modified":"2021-02-16T03:34:01","modified_gmt":"2021-02-16T03:34:01","slug":"magic-sauce-for-industry-lower-natgas-costs-new-legislation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/magic-sauce-for-industry-lower-natgas-costs-new-legislation\/","title":{"rendered":"Magic sauce for industry: Lower natgas costs + new legislation?"},"content":{"rendered":"

<\/a> Manufacturers could get lower natural gas prices if the House Industry<\/strong> Committee gets its way<\/strong>, with the committee lobbying Oil Minister Tarek El Molla to cut prices to factories to help prop up local industry, Al Mal<\/a> reports. Industry figures are particularly unhappy about local gas prices remaining above international prices, said committee head Moataz Mohamed.<\/p>\n

Background:<\/strong> Getting natural gas at a lower price has been a longstanding request from factories. The government agreed to set an industry-wide USD 4.50 \/ mmBtu price for natural gas in March<\/a> as part of a wider fiscal stimulus package to help support the economy during the pandemic. Manufacturers are still unhappy, since this is around 30% above the USD 3.07 \/ mmBtu international spot price right now, and have been pushing the government to slash prices further \u2014 with some trying to get prices below the international average<\/a> to help drive the sector\u2019s recovery from covid-19.<\/p>\n

Also on the committee\u2019s wish-list: A \u201cUnified Manufacturing Act\u201d<\/strong> that would disentangle ministries\u2019 mandates when it comes to investments and cut down on the bureaucracy to help streamline investment policies, Mohamed said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Manufacturers could get lower natural gas prices if the House Industry Committee gets its way, with the committee lobbying Oil Minister Tarek El Molla to cut prices to factories to help prop up local industry, Al Mal reports. Industry figures are particularly unhappy about local gas prices remaining above international prices, said committee head Moataz […]<\/p>\n","protected":false},"author":1,"featured_media":560117,"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":[7255],"tags":[72,274,187,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-enterpriseam","tag-house-of-representatives","tag-legislation-watch","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"0548d15b-9d61-47e6-b6fd-fab465351e33","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/235.jpg","photo_position":"above","related_issue":[560108],"teaser":"","voice_url":""},"yoast_head":"\nMagic sauce for industry: Lower natgas costs + new legislation? - 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\/02\/16\/magic-sauce-for-industry-lower-natgas-costs-new-legislation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Magic sauce for industry: Lower natgas costs + new legislation?\" \/>\n<meta property=\"og:description\" content=\"Manufacturers could get lower natural gas prices if the House Industry Committee gets its way, with the committee lobbying Oil Minister Tarek El Molla to cut prices to factories to help prop up local industry, Al Mal reports. 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The committee is planning to present this recommendation\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":593422,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/government-to-review-natgas-electricity-prices-for-industries-within-days\/","url_meta":{"origin":560116,"position":1},"title":"Government to review natgas, electricity prices for industries within days","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"Gov\u2019t to review natgas, electricity prices for industries \u201cwithin days\u201d: The committee formed last month to revise the price at which the government sells natural gas and electricity to factories is set to meet within the next few days, Public Enterprises Minister Hisham Tawfik said, according to Al Shorouk. Prices\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\/11\/264.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574262,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/03\/industry-requests-another-cut-in-gas-prices-to-usd-3-5-mmbtu\/","url_meta":{"origin":560116,"position":2},"title":"Industry requests another cut in gas prices to USD 3.5\/mmbtu","author":"enterpriseam admin","date":"3 September 2020","format":false,"excerpt":"Industrial players still want to pay less for natural gas\u2026 Chemicals and fertilizer manufacturers are raising the issue of lowering gas prices once again, with Chemical and Fertilizers Export Council passing on a request to the Trade and Industry Ministry to lower the price of gas to USD 3.5\/mmbtu, Khaled\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\/9\/39.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593653,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-reduces-natural-gas-prices-for-three-types-of-factories\/","url_meta":{"origin":560116,"position":3},"title":"Egypt reduces natural gas prices for three types of factories","author":"enterpriseam admin","date":"7 October 2019","format":false,"excerpt":"Gov\u2019t announces long-awaited decision to lower natgas prices for industry, but only for a few sectors: A ministerial committee lowered on Thursday the price of natural gas for the cement, metallurgy, and ceramics industries after repeated calls by manufacturers, cabinet said in a statement. The price for cement factories was\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\/11\/264.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576173,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/12\/investors-union-egas-to-look-at-lower-gas-prices-for-industry\/","url_meta":{"origin":560116,"position":4},"title":"Investors union, EGAS to look at lower gas prices for industry","author":"enterpriseam admin","date":"12 November 2020","format":false,"excerpt":"Could natgas prices for factories be liberalized? Long-term demands from factories for lower gas prices will be considered by a newly-formed task force made up of the Egyptian Federation of Investors Associations and EGAS, EFIA member Sobhy Nasr told Youm7. The group will look at aligning local and international prices,\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\/11\/134.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574434,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/09\/could-industry-see-lower-gas-prices-this-month\/","url_meta":{"origin":560116,"position":5},"title":"Could industry see lower gas prices this month?","author":"enterpriseam admin","date":"9 September 2020","format":false,"excerpt":"Could industry see lower gas prices this month? A government committee that will decide on gas prices to industry is reportedly considering lowering the price of natural gas when they meet this month, Masrawy reports, citing government sources. Gas prices for all industries could be lowered to at least USD\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560116","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=560116"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560116\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560108"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560117"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560116"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560116"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}