Egyptian Parliament Approves New Gas Price Formula
The Egyptian parliament on 19 February approved the new gas price formula proposed by the Egyptian General Petroleum Corporation (EGPC). The new formula, which establishes the price at which EGPC will purchase gas from the foreign operators, provides for a ceiling of $2.65/mn BTU at Dated Brent $20/B or higher and a floor of $1.50/mn BTU at Dated Brent $10/B or lower, thus avoiding extreme fluctuations in...
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