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S-34.1, r. 3 - Regulation respecting petroleum exploration, production and storage licences, and the pipeline construction or use authorization
Section 104
Disposition versions
104. The Minister renews a storage licence for a period of 10 years, not more than 5 times, provided that the holder
(1) pays the fee payable under section 97 for the first year of the renewal;
(2) has complied with the Act and its regulations during the previous term;
(3) demonstrates that the holder has injected, stored or withdrawn petroleum for at least 24 months during the last 5 years of the previous term; and
(4) demonstrates that the reservoir use approach allows the injection, storage and withdrawal of the petroleum in an optimal and safe manner.
After those periods, the Minister may authorize the extension of the licence term for the period the Minister determines, where the holder applies for it in accordance with the first paragraph and demonstrates the economic relevance of the operation of the underground reservoir for the extension period.
The renewal application must be sent at least 120 days before the end of the previous term.
In force: 2018-09-20
104. The Minister renews a storage licence for a period of 10 years, not more than 5 times, provided that the holder
(1) pays the fee payable under section 97 for the first year of the renewal;
(2) has complied with the Act and its regulations during the previous term;
(3) demonstrates that the holder has injected, stored or withdrawn petroleum for at least 24 months during the last 5 years of the previous term; and
(4) demonstrates that the reservoir use approach allows the injection, storage and withdrawal of the petroleum in an optimal and safe manner.
After those periods, the Minister may authorize the extension of the licence term for the period the Minister determines, where the holder applies for it in accordance with the first paragraph and demonstrates the economic relevance of the operation of the underground reservoir for the extension period.
The renewal application must be sent at least 120 days before the end of the previous term.
