Daily News Egypt

EGAS renews initial approvals for BB energy, Taqa, Energy Fleet for gas importation - Daily News Egypt

Advertising Area

Advertising Area

EGAS renews initial approvals for BB energy, Taqa, Energy Fleet for gas importation

Three companies have not submitted required information to obtain licenses, says source

EGAS has renewed the approvals for the companies BB, Taqa and Energy Fleet on the licenses for natural or liquefied gas importation to provide it within the local market, after the licenses expired and the companies did not submit the required data to obtain the licenses.

A source at EGAS told Daily News Egypt that the three companies that obtained the initial approvals for the licenses have not submitted the data related to the importation body and the supplied amounts, as well as the client, with which there is a contract to obtain gas in the local market.

He explained that the initial approval on the import licenses is renewed every six months, and the companies applying to import gas have not taken any real steps to obtain the final licenses.

The private sector companies that obtained initial approvals are Energy Fleet, headed by Essam Kafafy, located in Panama, in addition to BB Energy, owned by a Lebanese Family, located in London. In addition, Taqa Arabia, owned by several funding gulf companies, in cooperation with Egyptian Qalaa Company.

The source revealed that the companies are not ready until now to open the door for gas importation in the domestic market, hence the authority to regulate the gas market has decided to delay providing importation licenses over the upcoming period until the local market is qualified for this.

EGAS has submitted a request to the Gas Market Regulatory Authority to obtain two licenses for the shipping and supply of natural gas to the local market.

The source pointed out that GASCO has submitted a request to the authority to obtain two licenses for the transport and distribution of gas. The committee formed by the authority inspects the applications submitted.

He said that 14 Egyptian companies are working to launch sub networks of gas and deliver gas to consumers.

The source pointed out that the authority will not interfere in the price of selling the final product to consumers and that it is committed to the price set by the cabinet.

The Ministry of Petroleum has estimated the maximum limit of the actual needs of the local market “cars, homes and factories” for natural gas to be about seven billion cubic feet per day.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter