The Egyptian Natural Gas Holding Company (EGAS) has received applications from four companies seeking to import natural gas to supply to the domestic market through the national grid.
An EGAS source told Daily News Egypt that the holding company is negotiating with the four companies to provide them with the necessary data in order to give them the initial approval until the law regulating gas imports is issued.
The source added that EGAS has prepared a form to evaluate the basic information of the companies which want to import natural gas.
The regulations that govern the process of importing natural gas, and using the national grid to transfer and distribute it to the domestic market, have been prepared.
Egypt’s State Council has finished reviewing the law which organises the import of natural gas through an entity; it was sent to parliament for discussion and approval.
EGAS is also choosing a headquarters for the entity to be established following the law’s issuance, in addition to the entity’s organisational structure and the regulations of the entity.
The role of the agency will be a regulatory one, for the activities of natural gas and monitoring the natural gas market, according to the draft law.
The agency, which will be affiliated to the Ministry of Petroleum, will work on attracting investments in the natural gas market and providing reports and recommendations to consumers.