VOL. XL

No. 50

15-December-1997

EGYPT

Egypt Sets 25% Limit On Domestic Natural Gas Price Hikes

At a meeting on 9 December, the Egyptian Cabinet approved raising the state-controlledprice of natural gas on the local market from E0.12 (about $0.035) to E0.141 (about$0.041) per cubic meter with effect from 1 January 1998. However, the cabinet also decidedto limit the increases in natural gas prices to 25% in the coming eight years to 2005 inorder to encourage greater use of gas especially in...