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Wednesday, 28 February 2018

New natgas regulator board meets for the first time, no word on when first import license will be issued

New natgas regulator board meets for the first time, no word on when first import license will be issued: The new natural gas market regulator’s board of directors met for the first time yesterday after the Ismail Cabinet signed off on the full formation, Al Ahram reports. Appointees to the board include GASCO head Hisham Radwan, EGAS deputy head Magdy Galal, Competition Authority boss Mona El Garf, and MP Mohamed El Sewedy. Chaired by Oil Minister Tarek El Molla, the board discussed their plans to bring the new regulator online now that the executive regulations to the Natural Gas Act have been issued, allowing private sector players to enter the market.

No word on the first import permit: Sources had said earlier this month that the board would issue the first LNG import license to the private sector before the end of February, when it convened for the first time. El Molla made no reference to the claims, but said that all entities working in the industry would have to request regulator approval. The minister also said that the board was still in the process of setting the fees and terms for the state’s agreements with natural gas companies to allow them to use its infrastructure for the transportation and distribution of LNG. Alaa Arafa’s Dolphinus Holdings has already signed a USD 15 bn natural gas import agreement with Israel and Egypt is also close to finalizing a similar pact with Cyprus.

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