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Bahrain Banagas Reviewing Local Gas Prices, Alwatan Says

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June 24 (Bloomberg) -- Bahrain’s National Gas Co., known as Banagas, is reviewing prices of natural gas sold locally to industrial companies, Alwatan newspaper said, citing chief executive officer Mohamed bin Khalifa Al Khalifa.

Banagas is awaiting the results of a study it’s undertaking with an international consultancy firm to determine the new pricing structure, the Bahraini daily quoted Al Khalifa as saying.

Global prices for the fuel have fluctuated this year and in Bahrain they are the highest in the Gulf region, Al Khalifa was quoted as saying.

Banagas is 75 percent owned by Bahrain’s government while the remaining 25 percent is equally owned by the Arab Petroleum Investments Corp. and Chevron Bahrain.

To contact the reporter on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net