Minister of Petroleum and Mineral Resources Tarek El Molla has highlighted the role of the Gas Regulatory Authority (GasReg) in the Egyptian market, affirming that since its establishment it has succeeded in cultivating new concepts and principles to be applied in the market.

This came during his speech while chairing the Board of Directors meeting of the authority at the end of the current term of the board. 

He added that the authority found the needed balance between the state and the private sector by boosting mechanisms and transparency settings and opening the market for new investments.

The minister also highlighted the need for the authority to encourage new investments in the Egyptian market. Moreover, El Molla praised the Chairman of the Board of Directors of GasReg Karem Mahmoud and all the members for their efforts. 

For his part, Mahmoud showcased the activities of the GasReg Authority and the procedures that have been taken during the past six years in order to achieve the target of its establishment in addition to what has been done to issue the license for shipping, transporting and supplying natural gas.