Energy Industry Sees New Regulation

The Bill, On Energetics, passed on 24 October 2023 the third reading in the parliament. Once approved into law, it will replace the 1998 Law No. 541-IQ of the same name and subject. The Bill proposes a general framework for the energy industry (energetics), mechanisms for ensuring energy security, and creating a healthy competitive environment within the industry.

The energy and energy resources covered by the Bill are all energy output, including fuel, renewable energy, electricity, thermal, and other forms of energy. The following are the covered operations:

• exploration of energy resources;
• development and production of energy resources;
• refining of energy resources;
• production of energy;