{"id":593653,"date":"2019-10-07T04:00:22","date_gmt":"2019-10-07T04:00:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-reduces-natural-gas-prices-for-three-types-of-factories\/"},"modified":"2019-10-07T04:00:22","modified_gmt":"2019-10-07T04:00:22","slug":"egypt-reduces-natural-gas-prices-for-three-types-of-factories","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-reduces-natural-gas-prices-for-three-types-of-factories\/","title":{"rendered":"Egypt reduces natural gas prices for three types of factories"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <b>Gov\u2019t announces long-awaited decision to lower natgas prices for industry, but only for a few sectors: <\/b>A ministerial committee lowered on Thursday the price of natural gas for the cement, metallurgy, and ceramics industries after repeated calls by manufacturers, <a href=\"http:\/\/www.cabinet.gov.eg\/Arabic\/MediaCenter\/CabinetNews\/Pages\/%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%8A%D9%88%D8%A7%D9%81%D9%82-%D8%B9%D9%84%D9%89-%D8%AA%D9%88%D8%B5%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D9%84%D8%AC%D9%86%D8%A9-%D8%A7%D9%84%D9%88%D8%B2%D8%A7%D8%B1%D9%8A%D8%A9-%D9%84%D8%A5%D8%B9%D8%A7%D8%AF%D8%A9-%D8%AA%D8%B3%D8%B9%D9%8A%D8%B1-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D9%84%D8%A8%D8%B9%D8%B6-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A7%D8%AA.aspx\">cabinet said in a statement<\/a>. The price for cement factories was slashed to USD 6 \/ mmBtu, down from USD 8. Metallurgy and ceramic manufacturers, meanwhile, saw their rates drop to USD 5.5 from USD 7. The committee will meet every 6 months to review the prices. Manufacturers <a href=\"https:\/\/enterprise.press\/stories\/2017\/08\/27\/manufacturers-looking-to-press-govt-once-again-on-lowering-gas-prices\/\">have been pressuring<\/a> the government for years to cut natural gas prices saying that it is affecting their product prices and thus sales which is causing them to work under their full production capacity.<\/p>\n<p><b>By offsetting the recent surge in operating costs, the decision bodes well for industrial output and exports of manufactured goods<\/b>, both the head of the Federation of Egyptian Industries (FEI) Mohamed Elsewedy and the export council of building materials and metallurgy industries Waleed Gamal El Din said, <a href=\"https:\/\/alborsaanews.com\/2019\/10\/03\/1251335\">according to a local press report<\/a>.<\/p>\n<p><b>A small relief for steelmakers: <\/b>The reduction will lower the cost of producing a tonne of steel by as much as EGP 425for long-product factories,and help resolve a dispute between long-product and rolling mills players caused by the imposition of 15% anti-dumping duties on imported steel billets, <a href=\"https:\/\/alborsaanews.com\/2019\/10\/03\/1251363\">Gamal El Garhy<\/a>, head of the metallurgical industries chamber at the FEI, said. Steel companies <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/long-delayed-steel-tariffs-ruling-takes-its-toll-on-local-steelmakers\/\">slashed prices<\/a> last week amid uncertainty caused by a delay in ruling on appeals filed by the State Lawsuits Authority and long-product steel makers against the suspension of the billet tariffs.<\/p>\n<p><b>But high steel tariffs are still needed -Pharos: <\/b>\u201cWe strongly believe that the government still needs to impose a hefty tariff on billets and finished steel imports north of 42% to maintain current prices and as high as 53% to improve margins, taking into account both the natural gas price reduction and the recent cut in local steel prices,\u201d Pharos wrote in a research note on Thursday. This is far higher than the 15% tariff on iron billets and the 25% duty on rebar that was <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/16\/egypts-administrative-court-turns-down-govt-appeal-to-bring-back-iron-tariffs\/\">rejected by the administrative court in July<\/a>. This is because any cost savings gained by the reduced gas price will be outweighed by the drop-off in revenue caused by falling steel prices.<\/p>\n<p><b>Cost savings for ceramics may be diluted by oversupply:<\/b> The research note stated that the tile manufacturing industry may not benefit from the cost as \u201coversupply issues\u201d may lead to a fall in the selling price. However, the move might improve the competitiveness of Egyptian ceramics abroad, ceramics manufacturer <a href=\"https:\/\/alborsaanews.com\/2019\/10\/03\/1251338\">Alfa Ceramic Chairman Wagih Besada said<\/a>.<\/p>\n<p><b>No gains for cement: <\/b>The weakened cement sector will see no cost savings as a result of the reduction as most factories use an energy mix of coal and mazut fuel oil, head of the cement division at the FEI <a href=\"https:\/\/alborsaanews.com\/2019\/10\/03\/1251299\">Medhat Estafanos said<\/a>. Pharos also said that South Valley Cement is the only company that will benefit, but nonetheless continue to generate negative margins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 slashed to USD 6 \/ [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":593654,"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":[93,72,131,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-energy","tag-enterpriseam","tag-manufacturing","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"640ce912-230e-4c70-9729-2d50cf9a0132","is_powered_by":true,"section_story_id":"8dffa5bf-ae6d-40fb-a10d-931b9772d5f8","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/11\/264.jpg","photo_position":"above","related_issue":[593646],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt reduces natural gas prices for three types of factories - 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\/2019\/10\/07\/egypt-reduces-natural-gas-prices-for-three-types-of-factories\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt reduces natural gas prices for three types of factories\" \/>\n<meta property=\"og:description\" content=\"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. 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The committee is planning to present this recommendation\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":593653,"position":2},"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 &quot;Speed Round&quot;","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":593809,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/10\/efia-to-push-govt-to-float-natural-gas-price-for-all-industry-sectors\/","url_meta":{"origin":593653,"position":3},"title":"EFIA to push gov\u2019t to float natural gas price for all industry sectors","author":"enterpriseam admin","date":"10 October 2019","format":false,"excerpt":"EFIA lobbies for new natgas pricing mechanism: The Egyptian Federation of Investors Associations (EFIA) will ask the Finance Ministry to impose a new mechanism that would determine natural gas prices for manufacturers akin to the floating customs exchange rate, EFIA\u2019s head of tax and customs Sobhi Nasr told Youm7. Comparing\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":592640,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/03\/nat-gas-price-cuts-for-the-petrochem-industry-may-be-on-the-way\/","url_meta":{"origin":593653,"position":4},"title":"Nat gas price cuts for the petrochem industry may be on the way","author":"enterpriseam admin","date":"3 November 2019","format":false,"excerpt":"Nat gas price cuts for the petrochem industry may be on the way: The Madbouly government is considering introducing a new pricing scheme that would lower the price of natural gas sold to petrochemical factories below USD 7\/mmBtu, a government source told the press. The mechanism would be linked to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569039,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/11\/egypts-cement-producers-still-unhappy-with-natgas-prices\/","url_meta":{"origin":593653,"position":5},"title":"Egypt\u2019s cement producers still unhappy with natgas prices","author":"enterpriseam admin","date":"11 February 2020","format":false,"excerpt":"Cement manufacturers will only go back to using natural gas if the government halves the price at which it sells it to their factories to USD 3 \/ MMBtu, head of the Federation of Egyptian Industries\u2019 cement division Medhat Estefanios tells Youm7. Coal will remain the more cost efficient energy\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"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\/593653","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=593653"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593653\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593654"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593653"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593653"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}