Natural Gas Daily Middle East & East Mediterranean Policy & Regulation
Egypt’s gas law receives final approval11 August 2017
Egypt’s president has ratified a law designed to break the state’s monopoly of the gas sector and establish a regulator. Cairo hopes the move will draw private investment to Egypt and remove some of the barriers to industrial development.
Law 196/2017, which regulates the activities of the gas market, was signed into law by Abdel Fattah el-Sisi on Monday, having received parliamentary approval on 5 July. The president of the Council of Ministers, Egypt’s cabinet, will issue specific regulations to Sisi within the next six months.
“The new gas law is a step by the Egyptian government to [break] the [Egyptian Natural Gas Holding Co.] and [Egyptian General Petroleum Corp.: EGPC] monopoly in the marketing of gas in Egypt,” Mostafa Ibrahim el-Shazly, an attorney in the Petroleum Agreements Department of EGPC, told Interfax Natural Gas Daily.
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