Gas Market Regulatory Authority to transfer 25% of revenues to Finance Ministry

The Law for the Establishment of the Natural Gas Market Regulatory Authority stipulates that 25% of the annual revenues of the ministry of finance shall be transferred to the ministry of finance. A source at the authority told Daily News Egypt that the authority is currently organising the internal market for the domestic distribution of natural gas by monitoring and following-up on the companies that have obtained licenses for "shipment, supply, and distribution" in order to ensure their compliance with the requirements of the activity.

He pointed out that the agency issued about 18 private and government companies to practice the "shipping, supply, and distribution" of natural gas in the local market.

The source also said that two licenses were issued to the Egyptian Natural Gas Holding Company (EGAS) to practice the activity of "shipping and supply" of natural gas to the domestic market.
He added that the Egyptian Natural Gas Company (GASCO) obtained three licenses for the "transport, distribution, and supply" of gas, by the committee formed by the gas market regulator to grant licenses to companies.