Alaska Gas Storage Agreement (AGRA) is a legally binding contract allowing for the storage and withdrawal of natural gas in Alaska. This agreement is crucial for facilitating the efficient and secure storage of natural gas, ensuring a steady energy supply during periods of high demand or in emergency situations. AGRA plays a vital role in the energy infrastructure of Alaska and is essential for maximizing the utilization of natural gas resources within the state. Types of Alaska Gas Storage Agreements: 1. Commercial Storage Agreement: This type of AGRA is entered into between natural gas producers and storage facility operators. It outlines the terms and conditions for storing natural gas in a commercial storage facility, including gas injection and withdrawal procedures, storage capacity allocations, tariffs, and liability provisions. 2. Seasonal Storage Agreement: To address the seasonal variations in natural gas demand, this type of AGRA is employed. It allows for storage operators to temporarily store excess natural gas during periods of low demand and retrieve it during peak demand seasons. Seasonal storage agreements ensure a stable gas supply throughout the year and help prevent supply shortages during the colder months. 3. Strategic Storage Agreement: This agreement is usually established between the government and gas storage facility operators. It focuses on creating strategic gas reserves as a contingency plan during emergencies, natural disasters, or supply disruptions. Strategic storage agreements often involve regulations and incentives to encourage storage operators to maintain a certain level of gas reserves on standby. 4. Interconnect or Storage Agreement: In situations where a storage facility is interconnected with multiple pipelines or transmission systems, an interconnect or storage agreement is utilized. This agreement governs the terms and conditions of gas flow between storage facilities and the interconnected pipelines, ensuring seamless operations, integration, and balancing of gas supply and demand. Keywords: Alaska Gas Storage Agreement, natural gas storage, energy supply, storage facility, gas injection, gas withdrawal, storage capacity, tariffs, liability provisions, seasonality, excess gas, strategic reserves, contingency plan, emergencies, supply disruptions, government, interconnect or, pipelines, gas flow, integration, gas supply, gas demand.
Alaska Gas Storage Agreement
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The Arctic Alaska (onshore) province is endowed with original oil reserves of 16.4 billion barrels and a discovered total of 70 billion barrels of oil in place. The Arctic Alaska (onshore) province produces about 1.5 million barrels per day and accounts for nearly 25 percent of all current U.S. daily oil production.
Depleted natural gas or oil fields function as gas storage reservoirs in California. Natural gas is injected into the storage reservoirs through gas storage wells and stored until withdrawn for use. There are 12 underground natural gas storage fields in the state.
The oil and gas industry has repeatedly failed to prevent or contain disastrous oil spills on Alaska's coast. The infamous Exxon Valdez oil spill in 1989 poisoned Alaska's beaches and wildlife, and significantly harmed Alaska's Indigenous communities.
The AOGCC approves drilling plans submitted with an application for Permit to Drill. The permit application is reviewed by the Commission's professional staff and the approval process typically takes 5 working days for a routine oil and gas production or injection well.