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Monday, 4 July 2016

Fears EGAS cutting natural gas supplies to steel factories for two months

Steel factories are anticipating a two-month cut in natural gas supply by EGAS during the summer, Chamber of Metallurgical Industries General Director Mohamed Sayed Hanafi told Al Shorouk. EGAS had cut natural gas supplies to steel factories around the same time last year due to increased demand from power stations. The supply cut would force factories to work at less than 25% capacity, driving up the cost of production and, subsequently, driving prices up, he added. EGAS Chairman Mohamed Aly Elmasry had earlier said EGAS would not cut supplies to factories in August.

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