Arkansas Gas Storage Service Agreement
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FAQ
Terminal Use Agreement means an agreement between Owner and a Customer pursuant to which Owner agrees to accept, store and regasify LNG delivered by a Customer to the Facility and deliver Natural Gas to the Customer.
An agreement is a manifestation of mutual assent by two or more persons to one another. It is a meeting of the minds in a common intention, and is made through offer and acceptance. An agreement can be shown from words, conduct, and in some cases, even silence.
Terminalling means handling and storage of Raw Materials, Intermediates, and/or Finished Products.
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 Natural gas is injected into the storage reservoirs through gas storage wells and stored until withdrawn for use.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.
Terminal Contracts means any Contract of any Target Company for the primary purpose of providing terminal, warehouse, storage, loading and unloading and other similar services at or relating to a terminal facility.
Definition. An agreement that is signed between a terminal operator and an oil company, which wants to store product at a terminal.