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The Egyptian Prime Minister issued a decree regulating the price of natural gas used by large industrial consumers. The price is set for each one million BTUs. For steel, cement and fertilizer industries, the price is USD 3. For the petrochemical industry, the price is USD 3 if used as fuel, but the price would be fixed pursuant to a formula related to the price of the finished product if used as a raw material. Ceramic, porcelain and glass industries will be charged at USD 2.3. For other industries, the price is set at USD 2. These prices are subject to revision periodically in light of the international price and the medium export price for Egyptian natural gas.
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