Rosneft studies investment opportunities in the Egyptian gas market with GasReg.
Gas Regulatory authority held a meeting with a high-level delegation from Rosneft last week. The Meeting was attended by the Director of Gas Business Products, Director of Gas Projects Management and The Directors Board consultant for North Africa and Middle East , In addition to a number of other representatives of the company to discuss some of its observations and inquiries about the legal procedures and controls needed to sell natural gas and liquified gas in the Egyptian market. Throughout the meeting, Eng. Karem Mahmoud, Gas Reg CEO demonstrated the latest procedures, achievements and regulatory rules that Gas Reg has taken during the past period to recognize the market and ensure that investors practice natural gas trading, transport and distribution activities in a transparent, regulated and free market. During their visit, Rosneft showed interest in studying the conditions of the Egyptian Gas market, its growth, opportunities and expected future needs. Within the framework of its interest to know the available opportunities to pump more investments, after announcing the opening of the gas market to the private sector for competition, where energy strategy to turn Egypt into a regional center for energy trading, which contributes to supporting stability and achieving the desired economic growth. It is worth mention that the establishment of the Gas Market Activities Regulatory Authority was issued under the gas law 196 of 2017 with the aim of setting the regulatory rules for the liberalization of the Egyptian gas market to ensure the setting of free competition among all market participants , while allowing the use of gas networks and facilities against fair tariff that is applied without discrimination and to ensure Achieving free competition , as well as organizing the emerging relation between the participants in the gas market and setting technical and legal controls for carrying out gas market activities.