The Legislations Department at Egypt’s State’s Council will submit a draft for the new gas distribution law along with a draft for the tenders and bidding law to the Egyptian Parliament early December, reported Al Borsa. Sources from the Legislations Department stated that the department will hold its final meeting on the November 30, then it will submit the laws to the Parliament.
A source with the Egyptian Natural Gas Holding Company (EGAS) said that the company had received five requested from private sector firms asking for a license to import natural gas and sell it in the local market. However, EGAS cannot issue licenses until the parliament approves and issues the regulation.
In related news, Egypt’s Petroleum and Mineral Resources Ministry had announced it plans to finalize the new gas law before the end of 2017, according to Oil Minister, Tarek El Molla. The new gas law, which at the time of the report was being reviewed by the State Council, was to establish a regulatory authority for the natural gas market, which would define levels of price liberalization and create equal opportunities for gas market contributors.