Egypt to raise price of Jordan gas exports

Before July a new agreement to amend the price of Egyptian gas exports to Jordan will be signed, said Jordanian Minister of Energy and Mineral Resources Khaled Toukan, following three months of negotiations between the two countries.

Touqan told AFP that ministers from both countries will meet before the end of June to set a new, fairer price.

Egypt resumed pumping gas to Jordan after supply was suspended on 27 April due to a blast at a gas terminal in Arish.

Egyptian natural gas is sold to Jordan at US$3 per thermal unit, while international market prices range between US$6 and US$7. Egypt supplies Jordan with 6.8 million cubic meters of gas on a daily basis, equivalent to 80 percent of Jordan’s electricity needs.

Egyptian Petroleum Minister Abdullah Ghorab told Al-Masry Al-Youm that Jordan has shown understanding for Egypt’s need to raise the price to be in line with international market prices. A senior official from the Egyptian Petroleum Ministry said that amendments to the gas deal with Jordan will facilitate a similar review of Egyptian gas exports to Israel.

Translated from the Arabic Edition

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