Following latest deals with Italian firms Eni and Edison, Egypt will now pay close to $6/mn BTU, not far off prevailing international LNG prices of $7-8/mn BTU, for an increasing share of its incremental gas output.

The Egyptian government is making concerted efforts to bring back international oil companies and with them much needed investment. It has revised the price it will pay for domestically produced gas. (CONTINUED - 905 WORDS)