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Tuesday February 20th, 2018

The Executive Regulations of the New Gas Market Law

 

In August 2017, Law No. 196 of 2017 on Organizing the Activities of the Gas Market was enacted to regulate the gas market in Egypt. It aimed to transform the dominance of the Egyptian Natural Gas Holding Company (EGAS) in the downstream market by opening the door to increased participation from the private sector. Meanwhile, the law left the framework for preparatory activities (upstream activities) unchanged, and stipulated that it does not apply to petroleum concession agreements that are addressed through separate laws. A new regulatory body, the Gas Market Regulatory Agency, was established under the law and is responsible for managing the gradual liberalization of Egypt’s natural gas market. In February 2018, the executive regulations of the new Gas Market Law were issued. They provide details on the issuance of licenses, which entities are required to obtain prior to participating in any activity in the gas market, and mandate the new Agency with a number of regulatory and organizational responsibilities in order to empower it to gradually create a competitive market. For more details on the new gas market law and its executive regulations you can visit this link.

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