Private sector companies stopped applying for natural gas import licenses as Egypt’s natural gas production grew to 6.8 billion cubic feet per day (bcf/d), achieving self-sufficiency with a surplus of exports, a governmental source told Al Borsa News.
According to the gas market regulatory law, the Egyptian Natural Gas Holding Company (EGAS) is the only authority responsible for issuing licenses for private sector companies to import natural gas directly to the local market, the source noted.
EGAS renewed primary approvals for BB, Taqa and Energy Fleet companies to import liquefied natural gas (LNG) and secure the product in the local market.
The primary approvals could be renewed each six months, the source said, adding that the three companies did not take any actual steps to obtain the import licenses.
Furthermore, Egypt’s Gas Regulatory Authority issued licenses for 18 private and state-owned firms to ship, deliver, and distribute natural gas across the local market, a government source previously told Al Borsa News.
The Gas Regulatory Authority issued two licenses for the Egyptian Natural Gas Holding Company (EGAS) to supply and distribute natural gas. Meanwhile, Egyptian Natural Gas Company (GASCO) obtained three licenses to supply, deliver, and distribute natural gas, the source noted.