Since 2010, the Global Law Experts annual awards have been celebrating excellence, innovation and performance across the legal communities from around the world.
posted 7 years ago
1. Bespoke Gas legislation
There shall be a bespoke legislation that recognizes gas as a fuel and revenue earner in its own right. The bespoke gas legislation shall address: (a) regulation of a dedicated gas industry (including the development of the mid and downstream gas sectors), (b) Pricing (c) licensing of different activities in the gas chain from exploration to final consumption, (d) separation of gas infrastructure ownership and operations from gas trading (e) gas specific fiscal regime (f) competition regulation.
2. Competitive gas pricing – albeit with transitional buffers
The Gas pricing framework will be clarified by a revised National Domestic Gas Supply and Pricing Regulation. Wholesale gas pricing will ultimately be market-driven however there shall be a transitional phase of price regulation, which shall be for a short period. Gas price regulation shall continue to apply in instances of
During the transitional period, parties may engage in transactions on a willing buyer – willing seller basis once they have met their DSO obligations.
3. Gas to Power
Gas supply to the power sector is a top priority. The government shall imminently address prevailing power sector risks to enable bankable gas supply arrangements to the power sector.
Under the policy, the government intends to maximize utilization of associated gas to be treated for supply to power generation.
4. New fiscal framework for gas
Gas is a hydrocarbon and a revenue earner in its own right and should be exploited on the basis of its economic value and not only as a by-product of oil exploration. Therefore, the policy seeks to stimulate capital investment in upstream, midstream and downstream gas activities by suggesting a reduction in royalties and gas tax rates in addition to other investment incentives.
5. Deliberate gas development
The government is expected to develop a model Gas Development Agreement containing its terms for the development of gas resources in PSC concessions.
6. Gas Flaring Penalties
Government to increase gas flaring penalty to an appropriate level sufficient to de-incentivize the practice of gas flaring whilst introducing other measures to encourage gas utilization.
7. Gas development as a condition for renewal of OMLS
Renewal of licenses and leases shall be subject to a commitment by the licensee or lessee to the development of the discovered gas resources within the license or lease area for domestic or export project, as applicable.
posted 1 hour ago
posted 3 hours ago
posted 21 hours ago
posted 21 hours ago
posted 22 hours ago
posted 4 days ago
posted 4 days ago
posted 5 days ago
posted 5 days ago
posted 5 days ago
No results available
ResetFind the right Legal Expert for your business
Global Law Experts is dedicated to providing exceptional legal services to clients around the world. With a vast network of highly skilled and experienced lawyers, we are committed to delivering innovative and tailored solutions to meet the diverse needs of our clients in various jurisdictions.