Abu Qir Fertilizers studies impacts of new natural gas price for nitrogen fertilizers’ producers
Updated 9/14/2022 10:35:00 AM
Arab Finance: Abu Qir Fertilizers and Chemicals Industries Company (ABUK) is currently studying the impacts of decree no. 3221 of 2022 issued by the Prime Minister on September 13 in regard to determining the price of natural gas supplied to the producers of nitrogen fertilizers as per a price equation, according to a statement published on September 14th.
The study is being conducted in accordance with the global prices of exporting urea, the local sale price, and the US dollar to Egyptian pound exchange rate.
Moreover, the company highlighted that the price equation included in the decree indicates that the selling price of natural gas to nitrogen fertilizers’ producers is connected with the price of selling/exporting urea per ton and is based on the average global prices of Free on Board (FOB) Egypt that are monthly updated.
The minimum price of natural gas supplied to nitrogen fertilizers’ producers would not be lower than $4.5 per million British thermal units (BTU), the company noted.
Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.
