Jordan regulates natural gas prices for local industries
AMMAN — Jordan on Thursday signed a deal to regulate the price of natural gas to be supplied to industries in the country.
Under the agreement, signed by the Energy Ministry and the Jordanian-Egyptian FAJR for Natural Gas Transmission and Supply Company, the vital commodity will be sold to industries at the same rate it was purchased from international markets, Minister of Energy and Mineral Resources Ibrahim Saif said at the signing ceremony.
He added that 10 industrial facilities had already submitted requests to be connected to the gas pipeline in Jordan to receive natural gas.
The deal stipulates setting a clear and transparent mechanism of pricing natural gas for industries on a monthly basis.
In August, the government signed an agreement with the Jordanian-Egyptian company to provide local industries with around 70 million cubic feet of natural gas.
Industries will save around 20 per cent of their energy bill by using this fuel, according to the ministry.
Jordan, which imports about 97 per cent of its energy needs, opened a terminal for liquefied natural gas, that enabled the country to import large quantities and to compensate for the natural gas supplies from Egypt that were halted since early 2014.