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Cairo, Egypt (CNN)– The Egyptian government decided to increase the prices of natural gas supplied to nitrogenous fertilizer factories, and the minimum selling price should not be less than 4.5 dollars per million thermal units, and the pricing mechanism was determined according to a new price equation that takes into account the price of a ton of urea supplied to the government and its export price. This mechanism will be updated monthly.
Officials said that the new pricing mechanism is fair to the investor and the government together, and links the price of gas supplied to factories to the international price, stressing that this increase will not affect companies that sell a share of their production abroad at the international price.
