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    Reuters: Egypt Sets Price for Shale Gas at $5.45 per mmBtu - Official

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Summary

Following its agreements with Apache and Shell to begin fracking, Egypt's oil ministry has set the price of shale gas at $5.45 per mmBtu

by: Erica Mills

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Press Notes, Africa

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Reuters: Egypt Sets Price for Shale Gas at $5.45 per mmBtu - Official

Egypt has set the price of shale gas expected to be extracted from a recent concession to foreign firms at $5.45 per million British thermal units (mmBtu), an official at the oil ministry said on Monday.

Egypt signed its first contract to extract gas by hydraulic fracturing, or fracking, in a deal with Apache and Shell Egypt in December that includes investments of $30-$40 million, the oil ministry said at the time.

Read the full article HERE.

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