Section 134: Conditions Applicable to a Bulk Gas Storage Licence.
In addition to conditions the Authority may impose under section 114 of this Act, a bulk gas storage licence shall be deemed to be granted subject to the conditions that—
(a) a licensee operating on its own account, being an affiliate of a lessee, may own, or the affiliate may own, the natural gas in the bulk storage facilities for the purpose of storing natural gas from the fields of the affiliate, subject to such third party access provisions as may be included in the licence;
(b) a licensee operating on its own account, who is also a wholesale customer or holder of a gas distributor licence, may own the natural gas in the bulk storage facilities, where the principal user of the natural gas is the wholesale customer or gas distributor, subject to any third party access provisions as may be included in the licence;
(c) the holder conduct its licenced activities safely and reliably in compliance with any law in force and prescribed health and safety regulations issued under this or any other Act;
(d) the holder have regard to the effect of its licenced activities on the environment and comply with the requirements for environmental protection, management, and restoration under this Act and any law in force; and
(e) the holder mark, maintain and secure the boundaries of its facilities and associated infrastructure constructed under the terms of its licence and any law in force.
Cite this section
Section 134, PETROLEUM INDUSTRY ACT, 2021 (2021).
https://repo.podus.ai/laws/petroleum-industry-act-2021/section/134/