Natural Gas Market Law (No. 4646).

This Law concerns with liberalization of the natural gas market and thus formation of an independent supervision and control mechanism over the same, so as to ensure supply of good-quality natural gas to consumers in a regular and environmentally sound manner under competitive conditions. The Law covers the import, transmission, distribution, storage, marketing, trade and export of natural gas and the rights and obligations of all real and legal persons relating to these activities. The Law consists of two Parts divided into 22 articles, dealing with the following matters: general provisions (Part I, arts. 1- 8) and miscellaneous provisions (Part II, art. 9-22). All activities in natural gas market shall be licensed. Legal entities must obtain a license for each activity and for each facility respectively, if the said activities are to be conducted in more than one facility, before starting operation. Licenses and certificates shall be granted for at least ten years and a maximum of thirty years whenever issued. Energy Market Regulation Authority is the authorized institution responsible for import, transmission, distribution, storage, trade and exportation of natural gas as well as granting licenses and certificates which define the rights and obligations of all real persons and legal entities regarding such activities.