Part 1: Licensing of Carbon Dioxide Transport and Storage Chapter 6: Miscellaneous and General Section 53: Cooperation of storage licensing authority with economic regulator
Section 53 inserts new sections 34A and 34B into the Energy Act 2008 to provide for cooperation and information-sharing between the economic regulator and the relevant CO2 storage licensing authority, which may be the Oil and Gas Authority or the relevant minister in the Scottish and Welsh administrations and the Department of the Economy in Northern Ireland. This is intended to support the exercise of the functions of the economic regulator, including by ensuring that relevant CO2 storage licensing authority informs the economic regulator if it becomes aware of circumstances that have arisen or are likely to arise that may affect the activities carried out under the licence.