EGAS Receives Four Applications to Import LNG

State owned Egyptian Natural Gas Holding Company (EGAS) has received application from four companies to import LNG, reported Daily News Egypt.

An EGAS source told Daily News Egypt that the company is negotiating with these companies to provide them with the necessary data in order to give them the initial approval until the law regulating gas imports is issued.

The four companies want to supply the imported gas to the domestic market through the national grid.

Regulation pertaining to importing gas and supplying the fuel to the national grid has been prepared. Egypt’s State Council has finished reviewing the law which organises the import of natural gas through an entity and has been sent to parliament for discussion and approval, the newspaper said.

Once the law is passed, an agency will be set up to regulate the natural gas market. The role of the agency will be to attract investment in the natural gas market and provide reports and recommendations to consumers, Daily News Egypt reported.