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New Department to Regulate Natural Gas Market in Egypt

Source: www.gulfoilandgas.com 2/25/2015, Location: Africa

Eng. Sherif Ismail, Minister of Petroleum and Mineral Resources has issued a decree to establish a new department at the Egyptian Natural Gas Holding Company (EGAS).

The department will regulate the natural gas market until a special Authority is formed within the next six months to take over those duties.

The minister said the government aims to liberate the natural gas market in the future, a system also applicable in most countries all over the world.

The Minister explained that any party wishing to import gas for himself or for other private sector companies will be allowed to use the national network for a certain tariff, as long as this does not affect the national security.

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