In his speech at the start of the conference today, he highlighted that Egypt is considered a regional hub in this sector, with gas refining capacities of approximately 40 million tons
Effective September 18, 2024, the price for household cylinders has surged from EGP 100 to EGP 150, marking a significant 50% increase, while commercial cylinders now cost EGP 200, up from EGP 150—a 33% hike.
The source added that the Egyptian General Petroleum Corporation (EGPC), responsible for managing the tender, negotiated at favorable prices with deferred payment terms extending up to 180 days
The decline in natural gas production was partly attributed to operational challenges at Egypt's largest gas field, Zohr in Port Said, where output has reportedly dropped by one-third since 2019
Egypt raised its estimate of the price of a barrel of oil in the current fiscal year budget by about 6.25% to $85, according to the semi-annual report on economic performance.
