October 3, 2019 / 4:06 PM / a month ago

UPDATE 1-Egypt lowers gas price to $5.50-$6 per mln Btu for industry

(Adds old prices of gas)

CAIRO, Oct 3 (Reuters) - Egypt has lowered the domestic price of gas for the cement, metals and ceramics industries, the prime minister said on Thursday.

Prices will be reviewed every six months, Prime Minister Mustafa Madbouly said in a statement.

The domestic price of gas for the cement industry was set at $6 per million Btu from $8 and at $5.50 per million Btu for metals and ceramics sector from $7.

Egypt has begun linking energy prices to those on the international market as part of subsidy-cutting reforms backed by the International Monetary Fund. (Reporting by Momen Saeed Atallah; Writing by Aidan Lewis; Editing by Jan Harvey and Giles Elgood)

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