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Industries
Egypt has increased natural gas prices for several energy-intensive industries starting in May, according to a prime ministerial decree published on Sunday. The move comes as the government struggles with volatile global energy prices and rising import costs.
The decree raises gas prices by an average of $2 per million British thermal units. Cement factories will pay $14, while iron and steel, non-nitrogen fertilisers and petrochemicals will pay $7.75.
Other industrial activities and petrochemical plants producing ethane and propane mixtures will pay between $6.50 and $6.75. The higher rates do not apply to consumers, whose gas supply contracts already use pricing formulas.
Egypt had already raised domestic fuel prices by up to 17% in March as global energy costs climbed. The government is also reducing fuel and electricity subsidies under its $8 billion programme with the International Monetary Fund.
The move comes as Egypt’s energy import bill has more than doubled, while monthly natural gas import costs have nearly tripled since the start of the U.S.-Israeli war with Iran. That leaves the industrial sector facing higher costs at a time of tight external pressure.
