{"id":576173,"date":"2020-11-12T03:58:28","date_gmt":"2020-11-12T03:58:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/12\/investors-union-egas-to-look-at-lower-gas-prices-for-industry\/"},"modified":"2020-11-12T03:58:28","modified_gmt":"2020-11-12T03:58:28","slug":"investors-union-egas-to-look-at-lower-gas-prices-for-industry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/12\/investors-union-egas-to-look-at-lower-gas-prices-for-industry\/","title":{"rendered":"Investors union, EGAS to look at lower gas prices for industry"},"content":{"rendered":"

<\/a> Could <\/strong>natgas prices for factories be liberalized?<\/strong> Long-term demands from factories for lower gas prices will be considered by a newly-formed task force<\/a> made up of the Egyptian Federation of Investors Associations and EGAS, EFIA member Sobhy Nasr told Youm7<\/a>. The group will look at aligning local and international prices, waiving interest fees on late gas payments, and allowing the original debt to be paid in installments over 15 years, he said.<\/p>\n

Local gas prices remain well above international prices<\/strong> despite the government slashing prices over the past year. Factories are currently paying USD 4.5 per mmBtu for gas, which is more than 30% above the current USD 3\/mmBtu international spot price. The government has twice reduced prices since October 2019, cutting them by up to 25% last year<\/a> before making another 25% reduction<\/a> in March in response to the covid-19 pandemic.<\/p>\n

Manufacturers<\/a><\/strong> and <\/strong>exporters<\/a><\/strong> have in recent months demanded that the government lower prices at least to USD 3.5\/mmBtu<\/strong>, while others suggested an even deeper cut to USD 2.5 is in order to help them recover from the covid-19 crisis. The recent economic stress caused by the pandemic and ensuing lockdown restrictions have placed pressure on the sector, which has for years argued that high gas prices have weighed on production and export growth.<\/p>\n

MPs <\/strong>have been getting more vocal on the subject:<\/strong> Representatives sitting on the House Industrial Committee have in recent weeks<\/a> sided with factories and called on the government to take action. Anonymous government sources told local media in September<\/a> that policymakers were considering reducing prices to USD 4\/mmBtu<\/strong> but there hasn\u2019t been any official comment on the matter since.<\/p>\n","protected":false},"excerpt":{"rendered":"

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, waiving interest fees on late […]<\/p>\n","protected":false},"author":1,"featured_media":576174,"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":[8572],"tags":[7135,6021,72,131,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-egas","tag-egyptian-federation-of-investors-associations","tag-enterpriseam","tag-manufacturing","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ff748802-b875-478e-bd45-19ce23710c17","is_powered_by":true,"section_story_id":"7151a586-b7e8-4766-93ff-a2d9865543ce","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/11\/134.jpg","photo_position":"above","related_issue":[576163],"teaser":"","voice_url":""},"yoast_head":"\nInvestors union, EGAS to look at lower gas prices for industry - 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\/2020\/11\/12\/investors-union-egas-to-look-at-lower-gas-prices-for-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investors union, EGAS to look at lower gas prices for industry\" \/>\n<meta property=\"og:description\" content=\"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. 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EGAS said the current prices are appropriate for different industries. It said factories, who receive about 2.4 bcf\/day of natural\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576443,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/24\/manufacturers-could-be-allowed-to-reschedule-natural-gas-debts\/","url_meta":{"origin":576173,"position":1},"title":"Manufacturers could be allowed to reschedule natural gas debts","author":"enterpriseam admin","date":"24 November 2020","format":false,"excerpt":"Manufacturers could be allowed to reschedule unpaid natural gas bills over a period of up to 10 years, according to a local press report quoting Egyptian Federation of Investors Associations (EFIA) board member Sobhy Nasr. The EFIA has been lobbying officials to allow a 15-year period to reschedule the debt\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\/255.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576212,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/industry-natgas-prices-could-be-reviewed-quarterly-instead-of-twice-a-year\/","url_meta":{"origin":576173,"position":2},"title":"Industry natgas prices could be reviewed quarterly instead of twice a year","author":"enterpriseam admin","date":"16 November 2020","format":false,"excerpt":"Industry lobbying to have natgas prices reviewed quarterly rather than twice a year. The government is considering increasing the frequency of which it reviews industry gas prices to three months instead of six months currently, Al Mal reports. The more frequent meetings would allow the government to respond quickly to\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\/162.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":642939,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/27\/manufacturers-looking-to-press-govt-once-again-on-lowering-gas-prices\/","url_meta":{"origin":576173,"position":3},"title":"Manufacturers looking to press gov\u2019t once again on lowering gas prices","author":"enterpriseam admin","date":"27 August 2017","format":false,"excerpt":"Manufacturers are looking to press the government once again on repricing natural gas to industry, with the Union of Egyptian Investors Associations planning to meet with Oil Ministry officials sometime in the next few days to push for the issue. An official from EGAS tells Al Mal that it is\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":567432,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/22\/egypt-to-cut-gas-prices-for-factories-in-coming-fiscal-year-sources\/","url_meta":{"origin":576173,"position":4},"title":"Egypt to cut gas prices for factories in coming fiscal year -sources","author":"enterpriseam admin","date":"22 January 2020","format":false,"excerpt":"Egypt to cut gas prices for factories in coming fiscal year -sources: The government is studying several proposals that could cut gas prices for factories by another USD 1.5-2 per mn British thermal units, with the new prices expected to come into force at the beginning of the new fiscal\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":568792,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-is-expected-to-cut-nat-gas-prices-to-factories-in-1q2020-analysts-say\/","url_meta":{"origin":576173,"position":5},"title":"Egypt is expected to cut nat gas prices to factories in 1Q2020, analysts say","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"Egypt to cut natgas prices to factories in 1Q2020, analysts say: Plunging natural gas prices and market oversupply are increasing the likelihood that the Egyptian government will cut gas prices to factories during the first quarter, analysts tell Reuters. The government has already recently lowered prices for certain industries and\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\/2\/49.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576173","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=576173"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576173\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/576174"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=576173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=576173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=576173"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=576173"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=576173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}