Egypt is going from a gas exporter to a gas importer and it will be
buying Qatari gas at the highest possible price. Whatever money Qatar
invested in the Arab Spring is about to be repaid at a very healthy profit.
has announced that it has changed from a gas-exporting to a gas
importing country based on a decision issued by the Petroleum Minister
that went into effect on 17 December.
Petroleum expert Medhat
Youssef said the decision was “unprecedented,” especially as Egypt would
import gas from international companies in Qatar, not the Qatari
government. The import price is expected to reach US$14 per 1 million
thermal units, whereas the government sells gas to factories for no more
The Egyptian government exports gas to Jordan at $5.50
per one million units, while Qatar exports it at more than $9, Youssef
said, arguing that Egypt administers its petroleum supply poorly and
should reconsider prices. (MORE)