The enterprise risk management system (ERMS), which aims to identify, assess, monitor, and promptly mitigate potential risk events that could negatively affect the operational and strategic goals of LLP West Gas Energy, its subsidiary, and dependent entities, is the key component of the corporate governance arrangements. The Enterprise Risk Management System Policy, which describes the development areas and intents, risk management principles, and the requirement for putting into practice and running a vertical process of industrial and non-industrial risk management, beginning at the top level and working down to the line level (an industrial structural unit of an SDE), has been approved by LLP West Gas Energy.

Additionally, LLP West Gas Energy has created the following systems to carry out the business’s ERMS Policy:

The LLP West Gas Energy Board of Directors approves the company’s corporate risk registrar, risk map, and overall risk appetite each year. The LLP West Gas Energy Risk Management Department continuously assesses how the main risks are changing and how mitigation strategies are being implemented. The Company is committed to developing a culture that is risk-aware.

In order to do this, LLP West Gas Energy’s SDEs and all structure divisions participate in the risk management process, and information is routinely shared between the company’s staff, management board, board of directors, and risk committee. Risk management training is given to LLP West Gas Energy employees and SDEs. Regarding the development and execution of the business continuity management system and internal control system (process level risk management), LLP West Gas Energy allocates resources for enhancing the organization’s ERMS (management of risks resulting in business interruption).