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Natural Gas Pipeline System Market 2023 Is Set To Fly High In Upcoming Year
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2023 Natural Gas Pipeline System Market Size And Value Till 2030
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Congress recently passed legislation with a reauthorization of the pipeline safety programs through 2023 as a part of the Consolidated Appropriations Act. The Protecting Our Infrastructure of Pipelines and Enhancing Safety Act of 2020 (“PIPES Act of 2020”) directs the Pipeline and Hazardous Materials Safety Administration (“PHMSA”) to promulgate regulations addressing a variety of pipeline safety issues. Despite these mandates, the PIPES Act of 2020 overall imposes far fewer new burdens on the pipeline industry than prior legislation. President Trump signed this legislation into law on December 27, 2020. As a result, PHMSA is now tasked to, among other things, adopt some significant requirements for liquefied natural gas (“LNG”) facilities, provide for the monitoring of methane leaks by natural gas pipelines and transmission systems, adopt requirements for gathering line systems to manage safety considerations,
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The Pipeline and Hazardous Material Safety Administration (PHMSA) states that its mission is to protect people and the environment by advancing the safe transportation of energy and other hazardous materials that are essential to our daily lives. Previous Congresses and administrations have passed laws and promulgated rules with this dual mission of protecting people and the environment in mind, but typically PHMSA looks at near-term environmental effects when it comes to safety. Some Democrats want to use PHMSA as part of their broader environmental goals to have less carbon in general, and the recent PHMSA reauthorization especially emphasizes the environmental aspect of PHMSA s mission. The Biden Administration will undoubtedly place a renewed emphasis on environmental issues, but it remains to be seen whether it will go so far as to make pipeline safety a true environmental focus.