Gas Trading and Settlement Regulations, Statutory Instrument no. 12 of 2023.

These Regulations, made under sections 33, 126 and 159 of the Petroleum Industry Act, No. 6 of 2021, provide for: regulating the establishment and operations of gas trading and settlement exchange platform; establishing the principles for the secure, reliable and efficient trading and settlement of natural gas and other gas commodities; promoting and sustaining the trading, exchange and settlement of natural gas and other gas commodities. The Regulations define: persons qualified to participate in a gas trading and settlement exchange; approval or suspension of gas exchange contracts by the Authority; gas trading licence and clearing house authorisation; financial requirements; governance structure of gas exchange and clearing house; adoption of best practices and risk management processes; transport and delivery procedure; agreement between gas exchange and clearing house; contribution to the settlement guarantee fund; inspection, enquiries and enforcement measures.