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Thursday, 16 November 2017

Natural gas market to be fully deregulated by 2022

Natural gas market to be fully deregulated by 2022: The Oil Ministry is reportedly planning to fully implement the Natural Gas Act, which deregulated the market, by 2022, ministry sources tell Al Shorouk. The state will complete its transition to a regulator in five years, leaving the sector wide open for private operators to import and distribute gas to the national grid, the source added. Last month, Prime Minister Sherif Ismail had appointed Karem Mahmoud to head the new regulatory body. The starting gun for the law will be when the executive regulations are ratified, which Oil Minister Tarek El Molla said was coming any day now.

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