Zohr is a godsend to industry: The government has reportedly once again promised steel producers that it will reduce their natural gas prices to USD 4.5 from USD 7 per mmBtu by the end of 2017 once capacities from new field discoveries come onstream, according to the head of the steel division at the Federation of Egyptian Industries (FEI) Gamal El Garhy, Al Borsa reports. We would usually take this with a grain of salt, but with Zohr coming online, industry appears to be getting a reprieve from higher gas prices.
