Private sector to be able to import natural gas

BY

-

Thu, 06 Jul 2017 - 05:50 GMT

BY

Thu, 06 Jul 2017 - 05:50 GMT

Minister of Petroleum Tarek El-Molla - Press Photo

Minister of Petroleum Tarek El-Molla - Press Photo

ALEXANDRIA - Egypt - 6 July 2017: Minister of Petroleum and Mineral Resources Tarek el-Molla said the executive regulations of the law on natural gas are expected to be ready in September.

The law will allow the private sector to import the natural gas from several countries, such as Cyprus via pipelines or ships, the minister said in press statements on Thursday.

Egypt is a large consumer market, he noted, adding that the private sector would be allowed to sell the natural gas internally or to export it, he noted.

Egypt seeks to deliver natural gas to about 600,000 housing units during 2017, the minister further noted.

Molla also emphasized the petroleum ministry's keenness to back foreign investments in the fields of petroleum and natural gas.

On that score, he said that indebtedness of foreign partners slumped to $2.3 billion last June, from $6.3 billion in 2013.

Comments

0

Leave a Comment

Be Social