The commissioner may determine that a person or group is a qualified sponsor or qualified sponsor group if the person or a member of the group
(1) intends to own an equity interest in a qualified project, intends to commit gas that it owns to a qualified project, or holds the permits that the department determines are essential to construct and operate a qualified project; and
(2) meets one or more of the following criteria:
(A) owns a working interest in at least 10 percent of the stranded gas proposed to be developed by a qualified project;
(B) has the right to purchase at least 10 percent of the stranded gas proposed to be developed by a qualified project;
(C) has the right to acquire, control, or market at least 10 percent of the stranded gas proposed to be developed by a qualified project;
(D) has a net worth equal to at least 10 percent of the estimated cost of constructing a qualified project;
(E) has an unused line of credit equal to at least 15 percent of the estimated cost of constructing a qualified project.
Section: Previous 43.82.100 43.82.110 43.82.120 43.82.130 43.82.140 43.82.150 43.82.160 43.82.170 43.82.180 NextLast modified: November 15, 2016