As part of updates to the National Energy Board's gas and oil import and export rules, the Board has published significant proposed revisions to three regulations.
Changes to the National Energy Board Part VI (Oil and Gas Regulations) would include changes that would:
- require licenses for the export of heavy crude oil and refined products
- end licensing requirements for the import of natural gas
- reduce and simplify the amount of information required in the application for a gas export license, including removing detailed information requirements related to gas supply and sales contracts and transportation arrangements
- exempt gas being exported for subsequent reimportation from export licensing
- remove requirements to file export sales contracts with the Board and seek Board approval for amendments to such contracts
Conforming changes are proposed to the National Energy Board Export and Import Reporting Regulations
Finally, changes are proposed to the Toll Information Regulations which would reduce the frequency at which reports on the rate of return charged for regulated assets must be provided to the Board (from quarterly to annual) and which would give the Board expanded discretion to exempt companies from compliance with the requirement to provide toll and traffic information to the Board.
The Board is accepting comments on the proposed regulations until September 30.