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    Daily News Egypt: $2.25bn Cost of Importing Gas for FY 2015-2016

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Summary

The Egyptian Natural Gas Holding Company says gas imports will cost it $2.25bn, not $2.5bn, in the next fiscal year thanks to falling Brent oil prices

by: Erica Mills

Posted in:

Press Notes, Africa

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Daily News Egypt: $2.25bn Cost of Importing Gas for FY 2015-2016

The Egyptian Natural Gas Holding Company (EGAS) estimated the cost of importing 500m cubic feet of gas daily in the next fiscal year (FY) is at around $2.25bn, instead of $2.5bn. This is due to the continuous decline in Brent oil prices globally and its effect on gas prices.

EGAS Chairman Khaled Abdel Badie said in a statement to the Daily News Egypt that an agreement has been signed with British Petroleum (BP) for importing around 18 shipments of liquefied gas to Egypt in the next FY 2015-2016.

Read the full article HERE.

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