Bahrain Raises Natural Gas Price to $3.25 per Million Thermal Units
2018-03-19 - 9:40 p
Bahrain Mirror: By April 1, Bahrain will raise the price of natural gas produced from the Bahrain field to $3.25 per million thermal units, i.e. from a current $3 for industrial companies. This amounts to a 8.33% increase, according to the timetable set for the price increase of natural gas annually, extended until 2021. This comes in light of the government's efforts to increase government budget revenues and reduce subsidies amid falling oil prices and low oil revenues.
In early April 2015, the government decided to raise the price of natural gas from $2.25 per million British thermal units (MMBtu) to $2.50 per million British thermal units, with an annual price increase by $0.25 per million British thermal units on April 1 of every year until the price of natural gas reaches $4.00 per million British thermal units in early April 2021.
Thirty-five companies, including Bahrain's Alba, are benefiting from natural gas subsidies, estimated at 610 million dinars ($1.62 billion) annually, according to previous press releases by officials.
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