Engineer Karem Mahmoud, CEO of Gas Regulatory Authority: Egypt is on its way to achieving competitive neutrality
Engineer Karem Mahmoud, CEO of Gas Regulatory Authority, confirmed that Egypt is on its way to achieving competitive neutrality in the gas market.He added during his speech at the conference “Enhancing Competitive Neutrality: The Egyptian and International Experience, the National Strategy to Support Competition Policies and Competitive Neutrality,” that the Gas Regulatory Authority was established in accordance with the law issued in August 2017 and the executive regulations in February 2018, and the aim of its establishment is to regulate the gas market and make all networks and gas facilities available. In Egypt, which is standard compared to gas networks in the countries of the Mediterranean and the entire Middle East, in addition to attracting foreign investments, which will only be achieved by establishing a competitive, neutral and transparent market.
Moreover, he explained that GasReg includes in its membership all parties concerned with the gas market from the Federation of Industries and representatives of the private sector and Egyptian petroleum, in addition to the membership of the head of the Authority for the Protection of Competition and the Prevention of Monopolistic Practices, in order to ensure that all decisions issued by GasReg take into account all competition laws.
He noted that GasReg has begun to create a complete regulatory framework for practicing all activities of the gas market in Egypt in all its branches, starting from its import, supply, transportation and distribution networks, and even its re-export, indicating that it will be a regional center for the production and export of gas, and the regulator is one of the tools that allow the implementation of this strategic goal, as it exports Licenses and allows the entry of other suppliers who import gas to the Egyptian market, to secure the country’s gas needs, whether for local use or for re-export, by applying the principle of competitiveness, as no investor will accept entry into a market that is not characterized by transparency and free competition.