The regulatory amendments In this particular rulemaking are anticipated to boost the complete quantity of financial assurance required from OCS lessees and grant holders. People lessees that do not meet the up to date criteria to avoid supplying monetary assurance will realize an increased compliance Price in the form of bonding rates. BOEM has drafted a Regulatory Impact Assessment (RIA) detailing the believed impacts with the respective provisions of the ultimate rule and it has incorporated it within the docket.
It has been greater than 6 months given that significant, human-produced harm that prompted A serious drop in force was very first detected during the Balticconnector pipeline in Finnish economic waters on Oct.
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including new standards less than which a bond or 3rd-party ensure that was delivered as fiscal assurance may very well be canceled, and
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A commenter suggested that the Division shouldn't demand supplemental bonding for RUEs which might be servicing and linked to substantial value leases because some businesses individual desire during the reserves associated with a RUE granted to take care of a System operational on an expired lease for servicing generation on An additional lease. Response:
This ultimate rule will have an impact on present and potential lessees, sublessees, RUE grant holders, and pipeline ROW grant holders. BOEM's Investigation demonstrates this contains approximately 391 corporations with document title ownership or operating legal rights in leases, and more info with pursuits in RUE grants and pipeline ROW grants.
BOEM agrees with the commenters that the decommissioning legal responsibility shouldn't be double counted; it isn't the Bureau's intent to double rely the decommissioning liability. The rules are clear that BOEM is requesting the discounted value of the reserves ( e.g.,