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Thursday, 17 August 2017

EGAS approves import licenses for three private companies

EGAS approved natural gas import licenses on Wednesday for the three private companies Fleet, BB Energy, and Qalaa Holding’s TAQA Arabia, sources familiar with the matter tell Al Borsa. EGAS had given the three companies preliminary approval last year, pending the issuance of the Natural Gas Act, which effectively deregulates the market and opens it for competition. The act was signed into law by President Abdel Fattah El Sisi last week. Five companies had bid to import natural gas privately, including Alaa Arafa’s Dolphinus Holdings — rumored to have been in talks to import gas from Israel’s Tamar gas field — and TAQA Arabia. We noted on Tuesday that Logic Management Consulting was tapped to advise on setting up the natural gas market regulator that will manage private sector players’ access to the market.

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