The House of Representatives’ Energy Committee amended clauses of the Natural Gas Act placing the new gas market regulator under the jurisdiction of the Egyptian Cabinet instead of the Ministry of Petroleum and Mineral Resources, Al Borsa informed, citing Committee Member, El Sayed Hegazy.
According to the amendment, the Prime Minister, Sherif Ismail, will be assigned Chairman of the gas market regulator instead of the Minister of Petroleum, Tarek El Molla.
Hegazy stated that the Committee will vote on the 53 articles of the gas law, and then the law will be submitted to the Parliament’s General Assembly to be voted.
Additionally, Committee Member, Hamada Galab, mentioned in an earlier statement that the Energy Committee discussed the legal articles of the law project, except for some, in particular the subordination of the regulator.
In the same context, a parliamentary source said that the private oil companies have requested the regulator to be under the jurisdiction of the Egyptian Cabinet not the Ministry of Petroleum and Mineral Resources, in order to have more independence.