The Egyptian Natural Gas Holding Company (EGAS) gave initial approval to three companies to import natural gas, a senior official at the company told Egypt Oil & Gas.
Companies need to secure a final approval within six month or repeat the entire process. Final approval entails proof of quality and specifications of gas imported, proof of source, a sales contract with a domestic buyer, to name a few.
Four other companies have applied and are in the process of obtaining initial approval.
The new gas law will permit factories to choose their own gas supplier in order to facilitate the supply of gas to low-energy-consumption, medium-energy-consumption, and high-energy consumption factories.
Egypt pumps around 170 million cubic meters per day into the national grid, which reached in length 7,407 kilometers by the end of 2016, an official at GASCO told Egypt Oil & Gas.