Part 2: Carbon dioxide capture, storage etc and hydrogen production, transport and storage Chapter 4: Carbon Dioxide Storage Licences Section 103: Specified provisions in carbon dioxide storage licences
Section 103 sets out that amendments will be made by Schedule 6 to the Storage of Carbon Dioxide (Licensing etc.) Regulations 2010 in order to introduce new ex-ante (before the event) powers for the Oil and Gas Authority (OGA) regarding the change of control of a company in relation to all Carbon Storage Licensees. This is to ensure that the governance, technical and financial capability of a Licensee in possession of a Carbon Storage Licence is not undermined by an undesirable change of control. This is to replace the OGA’s existing ex-post (after the event) powers to intervene after the change of control of a Licensee.