Library / Extraordinary Federal Republic of Nigeria Official Gazette No. 35
Extraordinary Federal Republic of Nigeria Official Gazette No. 35

Page 11 of 17
Requirement 
to provide 
information. 
Offences 
and 
penalties. 
(c) the existence 
of trading platform approved by the Authority to publish 
prices from time to time 
; 
(d) 
the availability 
of key delivery 
infrastructure and observance of 
third-party access rules 
+ and 
(cv) 
the existence of bilateral and over-the-counter trading. balancing 
rules and standardised trading contracts. 
(2) Where the Authority determines that a free market status has been 
achieved fora particular sector. the Authority shall in consultation with the 
Commission. notify the key stakeholders that the regulated pricing regime 
shall no longer be applicable for such sector and give not less than one year 
notice to the market. 
(3) 
Where the Authority determines that free market status has been 
system and the related 
gations shall terminate and 
domestic gas aggregation shall no longer be required upon the termination 
date of the last one year notice. 
achieved for the three sectors. the regulated gas pricin 
requirements under the domestic gas delivery oblig 
13. 
A producer. licensee or permit holder shall on the directive of the 
Authority provide information or data on gas volumes, gas pricing information 
and any other relevant information or data, in the manner prescribed by the 
Authority within 10 working days from the date of the directive. 
16.—(1) A person who — 
(a) 
fails to obtain a licence required under these Regulations 
(>) fails to provide information required under these Regulations 
; 
(c) 
makes 
a false declaration 
to the Authority 
or wilfully furnishes 
information so required, which is false in any 
(¢) 
fails to comply 
with any provisions of these Regulations or any 
directive given or condition of a permit or licence issued under these 
Regulations, 
spect or insufficient 
; or 
is liable to an administrative penalty not exceeding 
USD 100.000, and in addition 
any permit. licence or authoris ation granted to the person may be suspended, 
cancelled or terminated. 
(2) From the commencement of these Regulations. a supplier who fails 
to comply with its Domestic Gas Delivery Obligations as specilied in these 
Regulations. shall not be permitted to deliver gas to any export project until the 
domestic gas delivery obligation is met. 
(3) 
A producer or purchaser of gas or person acting on behalf of a 
producer or purchaser of 
gas under a domestic gas delivery obligation. who 
fails to accept the 
regate price or refuses to pay’ 
the proceeds of gas into 
the escrow account for the purposes of aggregation is liable to an administrative 
penalty prescribed by the Authority not exceeding USD 1.000.000,