A governmental source stated to Egypt Oil&Gas that the Egyptian Cabinet decided to start regulating gas imports in October 2017, which will enable private sector companies to directly import gas. This decision comes along with Egypt’s plan to reach the optimum energy mix in ten years.
He added that the new gas law will regulate the gas market and solve the energy supply shortage for factories. The law is aiming mainly to prevent monopoly. The gas regulator will have the authority to issue licenses to engage in gas market activities, and to renew and revoke these licenses. It will further determine the cost of issuing licenses and cots of services.
The source stated that the gas regulator will supervise the activities of the Egyptian gas market and to turn it into a competitive market in order to achieve the vision of the government to transform Egypt into an energy regional hub.
He pointed out that working in the light of Egypt’s energy strategy will be continuing till 2030, adding that the Egyptian strategy is aiming to reach self-sufficiency by 2018.