Petroleum Africa
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Tuesday, July 11, 2017
The Egyptian Parliament granted final approval on the new gas regulatory law. The purpose of the new authority is to pave the way for private sector companies to import and distribute gas within the country, where the state will charge a tariff for the use of its infrastructure.
The new gas law also allows for the establishment of a gas regulatory authority and under the law the Prime Minister should issue executive regulations within six months of the implementation date. All firms working in activities related to the gas sector should apply to the regulatory body of the law, once the executive regulations are issued in order to get a license to work in the gas market.
Firms will have one year to comply with the terms of the new gas law
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