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The Minister of Petroleum and Mineral Resources and Chairman of the Board of Directors of the Gas Market Regulatory Authority chaired the third meeting of the Gas Regulatory Authority in the presence of the engineer Karem Mahmoud, executive chairman and members of the board of directors. The minister pointed out that the law regulating the activities of the gas market in Egypt supports the strategic orientations of the state to turn Egypt into a regional center for trade and trade of gas and oil and encourage national and international investments. Gas.
million. Mulla highlighted the role of the regulator in regulating and controlling the monopolistic activities of companies in the gas market and pricing services, pointing out that Law No. 196 of 2017 drew the attention of the consumer to the consumer. As well as to determine gas prices, which will be subject to the supply and demand mechanisms as we progress towards the liberalization of the gas market gradually through cooperation and coordination with existing entities in the oil sector .
The Authority's Board of Directors approves the procedures for the issuance and licensing of gas market activities, amends, renews or discontinues them and determines the general bases to be respected by the licensees. Approval of the organizational structure of financial services and regulations, procurement and activities in accordance with Law 196 of 2017 to enable the Authority to play the role badigned to it and the role of regulation and market surveillance gas in Egypt.
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