Decision of the Minister of Oil and Gas Affairs No. (5) for 2010 on the adjustment of the price of natural gas

​Minister ofOil and Gas Affairs and Chairman of the NationalOil and GasAuthority:

After reading Law No. (10) of 2006 on the functions and terms of reference of the NationalOil and Gas Authority established by Decree No. (63) of 2005 and amending some of the provisions of decree No. (42) of 1999 to establish the Bahrain Oil Company,

On Decree No. (63) of 2005 establishing the NationalOil and GasAuthority,

Decree No. (78) of 2005 to form the Board of Directors of the NationalOil and Gas Authority and determine its purposes, terms of reference and amendments,

After the approval of the Council of Ministers and the Economic Development Council to raise the sale price of natural gas,

He decided:

Article 1

The sale price of natural gas for new projects increases from $1.5 to $2.5 per unit, effective July 1, 2010.

Article 2

The current price system for existing projects continues in accordance with the existing mechanism, which provides for a gradual increase in the sale price of natural gas by 10 cents at the beginning of April each year to reach $1.5 per unit by 2011.

Article 3

The relevant authorities must implement this decision, which will be implemented from July 1, 2010, and published in the Official Gazette.

Minister ofOil and Gas Affairs

Chairman of the NationalOil and Gas Authority

Dr. Abdul Hussein Bin Ali Mirza

Issued: May 8, 1431 H

Corresponding: April 22, 2010