Gas prices lowered in Egypt for cement sector

Egypt has reduced the domestic price of gas for the cement, metals and ceramic industries, said Prime Minister, Mostafa Madbouli.

Gas prices will continue to be reviews, but the cement industry will have a set price of US$6/mBtu down from US$8m/Btu, while metals and ceramics will pay US$5.50/mBtu down from US$7m/Btu.

Egypt has also started to link energy prices to the international market as part of subsidy-cutting reforms in line with recommendations from the International Monetary Fund.