Thursday, July 6, 2017

House passes Natural Gas Act, Mineral Resources Act - ENTERPRISE / AL SHOROUK

Thursday, 6 July 2017

The House of Representatives has finally approved the long-awaited Natural Gas Act without any amendments, Al Shorouk reports

The 53-article legislation would deregulate the natural gas market and leave the state to play the role of regulator. 

The law — which will allow the private sector to trade gas using the state’s infrastructure and pipeline network and establish a new authority to regulate and monitor the market — had been gathering dust since 2015, with a number of companies already having applied to import natural gas and had been waiting on the law. 

This should be welcome news for everybody.