Egypt is encouraging the private sector to invest in LNG imports, in an attempt to revitalise the country’s flagging energy sector, according to news site Reuters.
In recent years, dramatic reductions in gas production levels has seen Egypt go from being an energy exporter to an energy importer. As a result, Egypt has been blighted by power cuts and energy shortages in recent years.
Egypt has recently signed a host of LNG import deals this year, in an attempt to bolster energy levels in the country. Allowing the private sector to import gas as well could further boost supplies of gas, which is used to power most Egyptian homes and factories.
The chairman of state gas board Egyptian Natural Gas Holding Company (EGAS) said officials had decided to allow private companies to import gas through state infrastructure.
“EGAS and the (state-owned) Egyptian General Petroleum Corporation (EGPC) approved this week to let others (private companies) use the state-owned national gas network in transferring and marketing the gas,” Khaled Abdel Badie told Reuters by phone.
In exchange, the state will get a tariff for transferring the gas through its infrastructure, he added.
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