The Egyptian Natural Gas Holding Company (EGAS) granted four companies preliminary approvals on their requests to import natural gas privately and pump it through the national grid.
A source with EGAS stated that the company agreed with the four firms to meet all the requirements in order for EGAS to give them approvals to import natural gas and pump it directly to the grid once the new gas law is approved, reported Al Borsa.
EGAS prepared a data form that includes all the basic information for the companies seeking to import gas. The form has been published on the official website of EGAS in order for the company to pre-evaluate the applying firms before giving them approvals.
The source added that EGAS set regulations for the natural gas importing process and the usage of the Egyptian national grid to distribute gas in the market.
The company is currently searching for a location as a headquarters for the gas regulatory body once the new gas law is issued. The company is also working on the required preparations in anticipation for law deployment, such as setting organizational structures of the regulatory body, and establishing policies and regulations.