On the first of August 2017, a new Gas Law “Law no. 196 for the year 2017” was issued to create and govern a new clear legal & regulatory framework aiming at creating a liberalized gas market with the opportunity for competition in the downstream segments amongst potential market players.
The main provisions of the law include but are not limited to the following areas:
- Definition of all gas market activities subject to the regulated market.
- Identifying the roles, rights and obligations of all market participants as well as their relations among each other.
- Allowing specific segments of consumers (eligible consumers) to freely choose their own gas suppliers on freely agreed prices.
- Setting the rules & principles of regulating the downstream gas market activities.
- Introducing “Third Party Access principle” where Third Parties will be allowed to access the gas infrastructure under transparent codes and against fair, transparent and cost reflective tariffs.
- Establishing the independent Gas Regulator.
The Executive Regulation of the Gas Law was issued on 14 Feb 2018.