The EMGF recognizes the crucial role of the Energy and Natural Gas Regulatory Authorities in achieving its objectives. Regulatory Authority Advisory Committee (“RAAC”), enables the participation of the respective Energy and Natural Gas Regulatory Authorities of each EMGF member to share their experience contributing to the harmonization of regulations and policies of gas trade and supply on the regional level.
The RAAC main objective is to ensure that the rules and procedures of each EMGF Member Country are aligned and into place by discussing the best practices in the mechanisms of issuing, amending and policing the licenses, the structure of the balancing market as well as the current security of supply issues and the trend of production and imports. It works on adopting the best regulatory practises and techniques allowing to facilitate gas trading in the East-Med Region
The policy of the RAAC is to conduct its objectives in strict compliance with all laws, including all relevant international laws and without limitation all applicable anti-trust and competition laws. The RAAC doesn’t engage in any activity that could be considered preventing, restricting, or distorting competition. The RAAC doesn’t at any time be a forum for sharing commercially sensitive matters such as prices, market allocation, sales, costs, future business plans or any other commercially sensitive terms.