Cairo – Mubasher: The Egyptian petroleum ministry will sign a new agreement with Jordan to export natural gas to the Jordanian power plants by the end of this year.
The deal aims at exporting approximately 250 million cubic feet of Egyptian gas per day to Jordan prior to the end of 2018, Jordanian newspaper Al Masdar reported, citing an official source at the ministry.
Both parties are currently negotiating the gas export pricing, time of supplying, the actual gas quantities, and the duration of the contract, the source highlighted.
Egypt’s gas export rate to Jordan started declining in 2009, before the 25th January revolution, resulting in nearly $7 billion in losses for Jordan.
In August, Jordan and Egypt were looking to amend natural gas sale and purchase agreements, allowing Amman to import enough gas from Cairo that would cover 10% of the Hashemite kingdom's electricity generation demand.
In March, petroleum minister Tarek El-Molla said that the Egyptian natural gas would be re-pumped to Jordan as of early 2019 after a four-year of suspension.