Egypt’s Prime Minister, Sherif Ismail, issued the executive regulations of the natural gas meet regulating law number 196 for year 2017, Egypt Oil & Gas reports.

The new gas law will allow companies of the private sector to directly import natural gas, according to Reuters.

The government issued the new gas law number 196 / 2017 last August. The law is an attempt by the government to liberalize the natural gas market and encourage private investment.

The new law regulating gas markets is expected to bring a more flexible gas market and boost the Egyptian economy, according to the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, Egypt Oil & Gas reported.