Regulatory aspects

The BBL Company has developed and operates the BBL pipeline in compliance with all applicable laws and regulations. A treaty between the UK and Dutch Governments has been concluded. This agreement sets out how the governments will work together on certain matters regarding the BBL pipeline. This will include health, safety, environmental matters and tax aspects.

The regulatory framework for the BBL follows from the national implementation of the second EU Gas Directive, which was adopted in 2003. This new legislation defines the legal and regulatory aspects of network access conditions. One of these aspects is the possibility (subject to conditions) to exempt certain new gas infrastructure from the requirement to offer access on the basis of regulated tariffs. BBL Company has received such exemption from the national authorities and the European Commission.

BBL Company will continue to be subject to other provisions in the relevant legislation such as the requirements relating to the appointment of a system operator and provision of information to the market and regulatory authorities.