In Egypt .. a new increase in natural gas prices

Egyptian sources revealed an upcoming government decision to increase the prices of natural gas for the industrial sector, with a focus on the fertilizer sector as one of the largest consumers, within the framework of the energy support for energy support program that aims to direct support towards the most needy families and reduce the gap between local and global prices.

The sources pointed out that the increase will be applied gradually to avoid the burdens on factories and maintain their competitiveness in export markets, and it is expected that prices will rise by about one dollar per million heat units to reach: $ 5.5 for the industry of nitrogen fertilizers, $ 6.75 for non -Azouti fertilizers and the iron and steel industry, $ 13 for cement. The government had raised the prices of home gas last June by 20% to 33%, where the price of a cubic meter reached 4-6 pounds according to consumption. In a related context, the Egyptian Ministry of Petroleum announced the acceleration of the development of the huge narcissus field in the eastern Mediterranean, whose reserves are estimated at 4 trillion cubic feet of natural gas, with the expectation of the initial production in the first quarter of 2026, in cooperation with the Chevron and Italian companies, to enhance the meeting of local demand and export through liquefaction stations in Damietta and Idko with a capacity of 2.1 billion cubic feet per day.