Ecuador promotes a cleaner and more efficient future with the validity of the new Natural Gas Operations Regulations

Machine translation was used to translate the following release from the Ministry of Energy and Mines

The National Government, through the Ministry of Energy and Mines, announces a transformation in the regulation of natural gas, establishing firm foundations for a cleaner and more efficient energy future with the validity of the new Natural Gas Operations Regulation, issued today by Decree Executive No. 311.

The regulation promises important environmental and economic benefits, highlighting its lower greenhouse gas emissions compared to coal and other fossil fuels by harmonizing articles 3 and 68 of the Hydrocarbons Law.

Among the main improvements of the new Regulation are:

– The simplification of administrative procedures by streamlining permits and authorizations; encouraging private investment.

– The marketing, storage, refining, industrialization and transportation phases of fuel are regulated.

– Joint authorization is prioritized, which reduces bureaucracy and duplication of procedures with an integrated approach.

– Modern techniques are defined based on international and national standards.

– Adequate insurance policies established by the Superintendence of Companies are provided.

– A simplified registry or online registry is implemented for all means of transportation that imports natural gas.

With this optimization, significant progress is made towards a more sustainable energy matrix, improving the generation of electrical energy and benefiting industrial sectors, achieving benefits such as:

– Attraction of greater private investment
– Pollution reduction
– Creation of new jobs

This Government initiative is a decisive step for the development and massification of the natural gas industry in the country, aligning with the best international practices and the recommendations of organizations specialized in climate change.