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Monday, 6 August 2018

Egypt’s Dolphinus to begin natural gas imports from Israel as of 1Q2019

Dolphinus Holdings could start importing natural gas from Israel as early as 1Q2019, sources with knowledge of the matter told Reuters yesterday. “Imports will start in small quantities first and will gradually increase to reach their climax in September 2019,” they add, without providing detail on the specific quantities or prices. Dolphinus has been waiting to receive approval from the natural gas market regulator to begin gas imports from Israel’s Delek and Noble under a USD 15 bn agreement signed earlier this year.

Background: Sources had previously said that the first import license would be issued before the end of 2018. We had heard last year that BB Energy, Fleet Energy, and Qalaa Holdings’ TAQA Arabia were given preliminary approval for import licenses. The Natural Gas Regulatory Authority made public on Thursday the fees it will charge the private sector for using the state’s natural gas grid for various commercial activities including, transmission, shipping, distribution, and supply. There’s been no official line, however, on when the first import license will be issued. The deregulation of the natural gas industry is one of several steps on the way to turning Egypt into regional hub for natural gas exports.

CORRECTION- While we’re on the subject, the Natural Gas Regulatory Authority will be charging private players USD 0.38/MMBtu to use the national grid for the first year of the program and not USD 0.038/MMBtu as we mistakenly wrote in our coverage yesterday. We apologize for the error. The entry has been corrected on our website.

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