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Egypt announces major hike in natural gas prices

CAIRO — Egypt has decided to more than double the price of its natural gas.


Officials said the new military regime in Cairo has already informed Jordan that Egyptian gas would increase from $3 per million btu to up to $7. They said the increase reflects that of the global market.

Egypt also supplies Israel with gas but there was no announcement of a price rise. Israel purchases Egyptian gas at between $4.50 and $5 per btu.

Also In This Edition

On March 16, Egypt restored gas supplies to Israel for the first time since the bombing of the pipeline in the Sinai Peninsula on Feb. 5. Officials said Egypt has already examined the prospect of a price increase for Israel.

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