The Egyptian government is considering increasing the frequency of which it reviews natural gas prices for the industrial sector to three months instead of current period of six, according to Al Mal local news website.
The more frequent meetings would allow the government to respond quickly to global price fluctuations and other factors that may affect local prices, the newspaper quotes an unnamed source as saying.
The pricing committee is likely to meet before the end of the year or at the start of 2021.
Manufacturers and exporters have demanded that the government lower prices from the current $ 4.5 per mmBtu, which is 30 percent more than the current international price, to at least $ 3.5/mmBtu, in order to help the industry recovery from the covid-19 crisis.
