Egypt cut the price of gas it sells to local industry on 3 October, reducing the price it sells to the cement industry by 25% to $6/mn BTU from the $8/mn BTU in place since November 2016. It also cut the price of gas for the country’s steel and other metals industries as well as glass and ceramics to $5.50/mn BTU from $7/mn BTU, a 21% reduction.
Even after the price cuts these supplies for gas to industry remain well above recent international gas prices. (CONTINUED - 931 WORDS)
