Shura Council approves energy supply, real estate contributions draft laws

Shura Council head building

The Shura Council approved, in a meeting today, June 27, the energy supply draft law, which aims to regulate the allocation of all types of energy to consumers.
 

This includes energy types in the fields of electricity, crude oil refining, petrochemical production, water desalination, industry, mining, agriculture and construction, communications, transportation and logistics, among others.
 

That is in addition to the issuance of licenses for natural gas and liquids activities, including transportation and processing, retail, gas purification, assembly and storage, local distribution, importing and exporting, the Saudi Press Agency (SPA) reported.
 

The draft law also targets establishing, owning and operating oil and gas networks and facilities by integrating feedstock, oil derivatives and petrochemical sectors, in a bid to achieve optimal exploitation of hydrocarbon resources.
 

The Council also greenlit the real estate contributions draft law, along with the real estate sale and leasing draft bill.