22—Amendment of section 30—Grant of retention licence
(1)
Section 30(1)—delete "grant of a retention licence" and substitute:
grant of a petroleum retention licence or a geothermal retention licence
(2)
Section 30—after subsection (1) insert:
(1a) Subject to this
Act, a person is, on application, entitled to the grant of a gas storage
retention licence in respect of a natural reservoir if the Minister is
satisfied as to 1 or both of the following:
(a) that
it is reasonable to facilitate the testing of the natural reservoir for the
storage of petroleum or another regulated substance;
(b) that
the use of the natural reservoir for the storage of petroleum or another
regulated substance is not currently commercially feasible or reasonable
(including by virtue of the fact that production of petroleum or another
regulated substance from a related area is not currently commercially
feasible).