Regulations of new gas act to be ready in September

CAIRO – 6 July 2017: The executive regulations of the Natural Gas Regulatory Act will be finished by the end of September, Minister of Petroleum Tarek El-Molla announced Thursday.

He added that the regulations will be prepared alongside the private sector. El-Molla’s statements came on the sidelines of an opening event of a new power plant in an ethylene and polyethylene complex.

Egypt’s parliament approved Wednesday a Natural Gas Regulatory Law that will allow the private sector to import and distribute natural gas.

The government said it aims to be a regional hub for the trade of liquefied natural gas (LNG) 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.