The Gas Regulatory Authority (GasReg) has discussed and showcased the operation code of the natural gas transportation system which will be applied as a main mechanism to regulate natural gas trade, create a competitive market, and establish the principles unifying the entities operating in the market, according to a press release.
This came during a meeting held by GasReg in attendance of the Minister of petroleum and Mineral Resources, Tarek El Molla, and the CEO of GasReg, Karem Mahmoud, in addition to the board of directors.
El Molla said that the importance of this code is represented by the group of technical and commercial rules for using the transportation system between the operators and users according to the gas regulation law which allows new parties to enter the market and compete.
For his side, Mahmoud elaborated that the law stated the necessity of authorizing the operation code after debates have taken place with the network operators as well as issuing the license for operators in the natural gas market.
The CEO of GasReg explained that this code consists of the characterization of natural gas transportation system and its appendix, monitoring and controlling system as well as the rights and duties of users, operators and owners in addition to the provided technical services which presents secured operation for the national natural gas grid.