In favor of Project development which is currently undergoing in Egypt and the direction towards restructuring the energy sector and improving the institutional and regulatory framework, which requires the implementation and modification in the energy sector, including natural gas as a major source of energy.
In this regard, a future vision for the energy sector was introduced, including the process of gas market liberalization in a way to reduce the subsidy burden by implementing some regulatory procedures in the gas market. According to the new framework, GasReg regulates the facilities and monitor the proper functioning of the downstream gas market and ensure fair competition among all market players, where new suppliers can bring additional gas through the national gas network and contracting with Eligible consumers who can freely select their licensed gas supplier and procure gas at free market price. This will highly contributes to maximize the economic benefits of the gas infrastructure and create a transparent, fair and competitive gas market.
It’s my pleasure to announce that the Gas Regulatory authority of Egypt has started exercising its role following the issuance of the new Law for gas market activities regulations in August 2017 followed by the Executive Regulations issuance in February 2018. Moreover the establishment of the Gas Regulatory authority “GasReg” with the objective of monitoring the functioning of the gas market, encouraging new investments and regulating the gas activities by Granting/renewal/modify/cancel Licenses for downstream gas activities, in addition to introducing competition amongst potential market players by allowing Third Party Access to gas networks and facilities under a fair and non-discriminatory basis, along with increasing the quality of services provided, and protecting the consumers’ rights, GasReg exercises all powers needed to achieve those objectives acting independently in a fair, transparent neutral and non-discriminatory manner.
We hope to deliver a satisfactory service to all Gas Market Participants and contribute to the prosperity of our country Egypt.
Eng. Karem Mahmoud