Policy and legal frameworks for underground natural gas storage in Iran |
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| Affiliation: | 1. Institute of Regional Economics and Urban Development, Tianjin Academy of Social Sciences, No.7 Yingshui Street, Nankai District, Tianjin, 300191, China;2. State Key Laboratory of Media Convergence and Communication, Communication University of China, No.1 Dingfuzhuang East Street, Chaoyang District, Beijing, 100024, China;3. School of Economics and Management, Communication University of China, No.1 Dingfuzhuang East Street, Chaoyang District, Beijing, 100024, China;4. School of Public Management, Tianjin University of Commerce, No.409 Guangrong Street, Beichen District, Tianjin, 300134, China;5. College of Business Administration, Capital University of Economics and Business, No.121 Zhangjialukou, Fengtai District, Beijing, 100070, China;1. LEDa, University Paris-Dauphine, University PSL, CGEMP, CNRS, 75016 Paris, France;2. Chaire European Electricity Markets, University Paris-Dauphine, PSL, 75016 Paris, France;3. Institute for High Voltage Equipment and Grids, Digitalization and Energy Economics (IAEW), RWTH Aachen University, 52062 Aachen, Germany;1. School of Economics, University of Cape Town, Rondebosch, South Africa;2. Water and Production Economics Program, University of Cape Town, Rondebosch, South Africa;3. School of Public Policy, University of California, Riverside, USA;1. North Carolina State University, Department of Civil, Construction and Environmental Engineering, Raleigh, NC, USA;2. University of North Carolina at Chapel Hill, Department of City and Regional Planning, Chapel Hill, NC, USA;1. School of Management, Hefei University of Technology, Hefei, Anhui, 230009, China;2. Anhui Key Laboratory of Philosophy and Social Sciences of Energy and Environment Smart Management and Green Low Carbon Development, Hefei University of Technology, Hefei, 230009, China |
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| Abstract: | Underground natural gas storage is a process with operational and economic benefits that balances a variable demand market with a constant energy supply. It increases gas service reliability at peak periods and enables the suppliers to meet gas demands. Thus, the sufficiency and responsiveness of existing policy and legal framework for developing underground gas storage to provide reliability to industry players require deep analysis.Iranian policymakers set out policies regarding gas storage as an economic decision to manage prospective risks associated with the gas market. However, comprehensive and integrated policies and strategic plans for underground gas storage are not set out to the required extent. Therefore, enacting specific, comprehensive, and integrated laws and regulations is imperative to consider the unique characteristics of underground gas storage. Enabling third-party access to gas storage facilities as a sectoral regulatory mechanism could guarantee competition. In addition, the role of constructive contractual arrangements for developing underground gas storage, founded on the sector's laws and regulations, as a complementary tool to attract investment should not be overlooked. The transfer of ownership of gas and facilities under such contractual arrangements could facilitate the process, incentivizing investment. |
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| Keywords: | Underground gas storage Policy Iranian legal framework Gas supply |
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