Natural Gas Transmission’s Tariff Value for year 2020
The Board of Directors of the Gas Regulatory Authority “GasReg”, chaired by HE. Eng. Tariq Al Mulla, Minister of Petroleum and Mineral Resources, approved the new natural gas transmission’s tariff value. The approved tariff, which was set at 37.52 cents per million British thermal units, facilitates and organizes the usage of the national gas pipe network for year 2020.
The new approved tariff comes within the competencies and responsibilities of the Gas Regulatory Authority “GasReg”. It was determined in compatible with the latest local and global updates aiming to regulate the financial and commercial parts of the gas transport activity, maximize the efficient use of resources and allow the transmission activity be economically profitable to the network owners.
The gas transmission’s tariff organizes the use of the national gas pipe network for others in accordance with the principles of transparency, justice, equality and non-discrimination, taking into account the interests of all parties involved in gas market activities.
The decision comes as part of policies to gradually liberate and integrate the gas market in Egypt with the world gas markets according to the international standards, as well as encourage foreign investment. This is to be in line with Egypt’s strategy to become a regional energy hub.
Generally, The Gas Regulatory Authority “GasReg” seeks to make information available to everyone, define the general regulations transparently, follow up the rules established by all parties, and provide technical advice’s and recommendations to the concerned authorities, in addition to the competent authorities, as well as all parties in the Egyptian gas market to support the country’s strategy and achieve its economic and development goals.