The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced Wednesday that it is working on new gas pricing regulations.
New regulations on the Environmental Management Plan, the Environmental Remediation Fund, Decommissioning and Abandonment, the Gas Infrastructure Fund, and the Natural Gas Pipeline Tariff are also in the works, according to the agency.
According to a statement issued by the NMDPRA in Abuja, the new regulations on midstream and downstream operations will bring clarity, improve business processes, and make it easier to do business in the sector.
Engr. Farouk Ahmed, the Authority’s Chief Executive, said during a meeting with members of the Independent Petroleum Producers Group (IPPG) in Abuja that a Working Team chaired by Mr Ogbugo K. Ukoha, Executive Director, Distribution Systems, Storage & Retailing Infrastructure (DSSRI), has been formed to review the draft regulations, engage and consult stakeholders, and ensure that they are implemented smoothly once they are released.
Earlier, Mr Abdulrazaq Isa, Chairman of the IPPG, stated that the IPPG is an association of 25 indigenous Exploration and Production (E&P) companies with the vision of promoting the continued development of the Nigerian Petroleum Industry for the benefit of industry stakeholders and the nation.
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