Arab Finance: published Official Gazette Issue No. 48 bis (a) of Prime Minister Dr. Mostafa Madbouly’s Decision No. 4175 of 2024, the first article of which states: “It replaces the text of Article Three of Prime Minister’s Decision No. 470 of 2004 regarding determining the selling price of natural gas for all industrial activities and gas stations.” The strong requirement is that the value of natural gas consumption be paid in US dollars for free zone and economic zone projects.
Otherwise, the payment of the value of natural gas will be in the equivalent in Egyptian pounds, according to the average price of the dollar officially announced by the Central Bank of Egypt during the month preceding the accounting period of consumption, in accordance with the provisions of Article (212) of the Law of the Central Authority and the Banking System.”
The Official Gazette, issue No. 48 bis (A), also published Prime Minister Dr. Mostafa Madbouly’s Decision No. 4176 of 2024, the first article of which stated, “It replaces the text of Article One of the Prime Minister’s Decision No. 3003 of 2024, regarding determining the selling price of natural gas.” The supplier of electricity generation to the electricity production companies affiliated with the Ministry of Electricity and Renewable Energy, by setting the selling price of natural gas supplied for electricity generation at $4/million British thermal units. “For electricity production companies, companies affiliated with the Ministry of Electricity and Renewable Energy, and other companies.”
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