Hawaii Exhibit E to Operating Agreement Gas Balancing Agreement - Form 5

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-749
• Format: Word; Rich Text

Description

This operating agreement exhibit is a gas balancing agreement that contains information about ownership and Disposable Production of Gas in kind. Hawaii Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legal document that outlines the terms and conditions related to gas balancing in Hawaii. This agreement is crucial for establishing a fair and efficient system for managing gas supply and demand in the region. Gas balancing refers to the process of matching the supply and demand of natural gas to maintain system stability and ensure uninterrupted gas service. It involves monitoring and adjusting the flow of gas in pipelines to address imbalances caused by fluctuating demand or unforeseen events. The Hawaii Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 document specifies the rights, responsibilities, and obligations of the parties involved in gas balancing operations. It clarifies the procedures for calculating imbalances, scheduling gas flows, and resolving any discrepancies that may arise. This exhibit includes various essential sections, such as: 1. Parties: This section lists all the parties involved in the agreement, including the gas suppliers, pipeline operators, and other relevant entities. 2. Definitions: Clear definitions of terms used throughout the document are provided to ensure a shared understanding of the terms by all parties. 3. Imbalance Determination: This section outlines the procedures for calculating and reporting gas imbalances. It defines how measurement data will be collected, compared, and settled between the parties. 4. Correction of Imbalances: The exhibit details the actions required to correct any imbalances detected, including the responsibility for scheduling gas nominations and making adjustments to meet supply and demand requirements. 5. Payment and Settlement: This section specifies the financial aspects of gas balancing, addressing how imbalances will be charged, invoiced, and settled between the parties. 6. Dispute Resolution: The exhibit includes provisions for resolving disputes related to gas balancing, such as mediation or arbitration procedures, to ensure fair resolution in case of conflicts. It is essential to note that there may be different versions or variations of the Hawaii Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, as it may be tailored to the specific needs and circumstances of the gas industry in Hawaii.

Hawaii Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legal document that outlines the terms and conditions related to gas balancing in Hawaii. This agreement is crucial for establishing a fair and efficient system for managing gas supply and demand in the region. Gas balancing refers to the process of matching the supply and demand of natural gas to maintain system stability and ensure uninterrupted gas service. It involves monitoring and adjusting the flow of gas in pipelines to address imbalances caused by fluctuating demand or unforeseen events. The Hawaii Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 document specifies the rights, responsibilities, and obligations of the parties involved in gas balancing operations. It clarifies the procedures for calculating imbalances, scheduling gas flows, and resolving any discrepancies that may arise. This exhibit includes various essential sections, such as: 1. Parties: This section lists all the parties involved in the agreement, including the gas suppliers, pipeline operators, and other relevant entities. 2. Definitions: Clear definitions of terms used throughout the document are provided to ensure a shared understanding of the terms by all parties. 3. Imbalance Determination: This section outlines the procedures for calculating and reporting gas imbalances. It defines how measurement data will be collected, compared, and settled between the parties. 4. Correction of Imbalances: The exhibit details the actions required to correct any imbalances detected, including the responsibility for scheduling gas nominations and making adjustments to meet supply and demand requirements. 5. Payment and Settlement: This section specifies the financial aspects of gas balancing, addressing how imbalances will be charged, invoiced, and settled between the parties. 6. Dispute Resolution: The exhibit includes provisions for resolving disputes related to gas balancing, such as mediation or arbitration procedures, to ensure fair resolution in case of conflicts. It is essential to note that there may be different versions or variations of the Hawaii Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, as it may be tailored to the specific needs and circumstances of the gas industry in Hawaii.