Gas pipes- Dingy via Wikimedia
CAIRO – 16 August 2017: The Egyptian Natural Gas Holding Company (EGAS) reportedly approved giving gas import licenses to three firms.
The three firms include BB Energy Trading and Qalaa Holding’s TAQA Arabia, an official source from EGAS told Egypt Today Wednesday.
The licenses are given under the provisions of the Natural Gas Regulatory Law, the source added.
Last month, the parliament approved the Natural Gas Regulatory Law that will allow the private sector to import and distribute natural gas.
The executive regulations of the Natural Gas Regulatory Act will be finalized by the end of September, Minister of Petroleum Tarek El-Molla said last month.
Molla added that the regulations will be prepared alongside the private sector.
The government said it aims to be a regional hub for liquefied natural gas (LNG) trade after a string of major discoveries, which are expected to help Egypt reach natural gas self-sufficiency by the end of 2018.
The new law is expected to pave the way for private sector companies to import and distribute gas within the country, an activity that is currently controlled by the government.