Jordan Faces Price Increase for Egyptian Gas

Egypt will sign a new agreement with Jordan to change the price of natural gas exports to Jordan.

Jordanian Minister of Energy and Mineral Resources Khaled Toukan said the agreement, to be signed before July, will increase the price of Jordan natural gas exports. The agreement follows three months of negotiations between the two countries.

Toukan said ministers from both countries will meet before the end of June to set a new fair price.

Currently, Egypt sells natural gas to Jordan at US$3 per thermal unit, while international market prices range between US$6 and US$7. Egypt supplies Jordan with 6.8 million cubic meters of gas on a daily basis.

Source: Al-Masry Al-Youm