Govt negotiates with French company over gas price ceiling

The Egyptian government is preparing to negotiate with a French gas company regarding Egypt's decision to cancel price limits on liquid gas exports to France. The government is to form a delegation from the finance and petroleum ministries to conduct negatiations on the issue with Gaz de France.

Petroleum Ministry sources said that the current price of US$4 per million thermal units is not proportionate to developments in the European gas market, where prices are expected to reach US$10 per million thermal units this year.

Translated from the Arabic Edition

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