GASREG participated in the Middle East and North Africa Energy Forum ”MENA”
The 2 nd edition of MENA virtual expo and summit was held on August 30 and 31, 2021 under the auspices of Omani’s Ministry of Energy and Minerals. A distinguished roster of participants and speakers, representing some of the energy-related organizations in the region, presented important topics as green hydrogen, energy security, digital transformation, wind energy, and floating solar. In addition to the latest storage technologies, importance of decarbonization and reduction of greenhouse gas emissions.
The Egyptian Gas Regulatory Authority participated in MENA and was represented by Economist, Hatem Mahmoud, General Manager of Economic Affairs, who presented the latest Egyptian natural gas market reforms. He mentioned the Gasreg’s achievements and its role in monitoring and regulation to qualify the gas market for competition and gradual liberalization to attract new participants in various activities; storage, transportation distribution & supply.
Mr. Hatem Mahmoud, referred to the most important achievements like the issuance of the Gas Market Activities Regulatory Law in 2018, which led to issuing licenses to licensees engaged in the gas market activities. This is considered as the first operational step to implement the Egyptian’s gas market strategy and promote Egypt as a regional gas hub, aiming to encourage free competitive and attract investment. Hatem also mentioned the setting up of tariff methodology for the use of distribution networks, as well as the code for using the Natural Gas Transmission System network without discrimination.
It is worth noting that the GASREG’s strategy for the gradual market opening plan was approved. Its vision is gradually transforming the Egyptian gas market into a competitive market, and thus a regional hub for gas trading, and provide a healthy attractive business environment for investors according to economic rules. Also secure energy supply, increase the added value and achieve balanced development, within the framework of the supportive institutional performance and the developed rules by GASREG Authority.
GASREG presence in MENA summit reflects the management’s belief in the necessity of participating in energy events regionally and internationally to exchange information and know the latest news/standards of regulating markets. In addition, to introduce the Egyptian’s energy vision and Natural Gas Sector strategy abroad, which help to enhance FDI opportunities, and serve the national economy and achieve the sustainable development goals.