{"id":632747,"date":"2018-02-19T04:31:03","date_gmt":"2018-02-19T04:31:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/egas-looks-to-make-nice-with-manufacturers-with-new-incentive-package-including-lower-fines-easier-payment-terms-for-natural-gas\/"},"modified":"2018-02-19T04:31:03","modified_gmt":"2018-02-19T04:31:03","slug":"egas-looks-to-make-nice-with-manufacturers-with-new-incentive-package-including-lower-fines-easier-payment-terms-for-natural-gas","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/19\/egas-looks-to-make-nice-with-manufacturers-with-new-incentive-package-including-lower-fines-easier-payment-terms-for-natural-gas\/","title":{"rendered":"EGAS looks to make nice with manufacturers with new incentive package including lower fines, easier payment terms for natural gas"},"content":{"rendered":"

<\/a> EGAS reduces fines, offers more flexible payment terms on natural gas supply contracts as incentives to manufacturers:<\/strong> EGAS wants to play nice with manufacturers. The state gas monopoly has approved amendments to its natural gas supply contracts for factories that mean to encourage more manufacturers to grow and set up shop, Trade and Industry Minister Tarek Kabil said yesterday, Al Ahram reports<\/a>. In addition to eliminating a 2.5% surcharge on manufacturers\u2019 overdue bills to EGAS, the amendments would reduce the fines manufacturers across multiple consumption brackets (above and below the 20,000 cbm\/d marker) have to pay for using more than their annual contracted amount of natural gas. The amendments \u2014 which Kabil says aims primarily to incentivize SMEs to set up shop \u2014 also offer more flexible payment terms, setting a lower insurance fee that requires producers to pay a deposit covering 30 rather than 60 days of consumption; and allowing businesses to pay for installation and connection fees in instalments over a 24-month period, up from 18 months before, provided they make a downpayment of 25% of the total.<\/p>\n

The changes will affect new and old new contracts.<\/strong> Lower fines could help appease angry manufacturers, who have been railing about rising natural gas prices after the EGP float, claiming natural gas supply has been interrupted at a number of factories that fell behind on bill payments due to mounting financial pressure. Manufacturers have been pushing for the government to lower gas prices, but officials strongly hinted last year<\/a> that a move in that direction is unlikely.<\/p>\n","protected":false},"excerpt":{"rendered":"

EGAS reduces fines, offers more flexible payment terms on natural gas supply contracts as incentives to manufacturers: EGAS wants to play nice with manufacturers. The state gas monopoly has approved amendments to its natural gas supply contracts for factories that mean to encourage more manufacturers to grow and set up shop, Trade and Industry Minister […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-632747","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5500ca14-7ae4-4069-89e1-0ccea44ca560","order":"0","is_powered_by":true,"section_story_id":"194f9b5d-1eea-44f5-9418-68629336aed0","story_type":"1","photo_url":"","photo_position":"above","related_issue":[632728],"teaser":"","voice_url":""},"yoast_head":"\nEGAS looks to make nice with manufacturers with new incentive package including lower fines, easier payment terms for natural gas - 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\/2018\/02\/19\/egas-looks-to-make-nice-with-manufacturers-with-new-incentive-package-including-lower-fines-easier-payment-terms-for-natural-gas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGAS looks to make nice with manufacturers with new incentive package including lower fines, easier payment terms for natural gas\" \/>\n<meta property=\"og:description\" content=\"EGAS reduces fines, offers more flexible payment terms on natural gas supply contracts as incentives to manufacturers: EGAS wants to play nice with manufacturers. 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The private sector will be able to import natural gas for industries through new regulations by 2018 or possibly before then, he added. A large portion of the gap between supply 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\/internal\/536550.png?resize=350%2C200&ssl=1","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":632747,"position":3},"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":642939,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/27\/manufacturers-looking-to-press-govt-once-again-on-lowering-gas-prices\/","url_meta":{"origin":632747,"position":4},"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. 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