June 26: New Requirements for Pipeline Operators
The government announced new requirements for companies operating major pipelines, such as the obligation to have a minimum financial capability of $1 billion to respond to any incident and remedy damage, new safety rules for pipelines and new financial penalties for violators. Highlights:
- New fines for companies and individuals for various infractions that range from $25,000 to a maximum of $100,000
- Requirement that companies appoint an accountable senior officer whose duty is to ensure their management system and programs are in compliance
- Making the “polluter pays” principle explicit in the law.