Petronas Gas introduces code of conduct

Petronas Gas Bhd (PGB) has set up a code of conduct which defines a standard of behaviour and disclosure in respect of the provision of third-party access (TPA) to gas transportation system operated by the company in Peninsular Malaysia.

In a filing to Bursa Malaysia today, PGB said the code of conduct was called Petronas Gas Bhd Network Code for Peninsular Gas Utilisation Transmission System (PGB Network Code).

It said the code was designed to provide a framework and a clear TPA regime through wide, transparent and uniformed principles to allow entities to gain access to gas transportation system.

"It aims to promote the development of a competitive gas market by establishing uniformed principles for owners and users of gas transportation system and to provide services through capacity reservation and promote security of supply and safety in the gas industry," it said.

The code was also to ensure transparency, fair and equitable practices in all transactions within gas transportation system, it said.

PGB said the TPA was in anticipation of the gas market liberalisation initiatives by the government and in aligning with the efforts of attaining gas supply security for Malaysia.

"With the TPA in place, the company is ready to provide gas transportation services to new players, hence the requirement of PGB Network Code is critical to ensure the safety and integrity of the pipeline," it said.

It said any party who wished to subscribe or to use PGB's gas transportation system would have to sign a gas transportation agreement (GTA) with the company.

"The GTA essentially provides for the commercial and operational requirement of the gas transportation system as well as the roles and responsibilities of the shipper and transporter," it said. -- Bernama