Illinois Gas Storage Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-723
• Format: Word; Rich Text

Description

This form is used when Owner owns and operates underground gas storage facilities and Customer desires storage service for natural gas to serve its Plant, and Owner is willing to render such storage services. The Illinois Gas Storage Agreement is a legal contract that outlines the terms and conditions for the storage of natural gas in the state of Illinois. This agreement is commonly used by individuals, businesses, and gas companies involved in the storage and distribution of natural gas. Keywords: Illinois Gas Storage Agreement, natural gas, storage, terms and conditions, individuals, businesses, gas companies, distribution There are different types of Gas Storage Agreements in Illinois, depending on the specific requirements and needs of the parties involved. Some types include: 1. Underground Natural Gas Storage Agreement: This type of agreement focuses on the storage of natural gas in underground facilities such as depleted natural gas reservoirs, salt caverns, or aquifer storage. It covers aspects like injection and withdrawal rights, capacity limitations, pricing considerations, and operational procedures. 2. Merchant Gas Storage Agreement: This type of agreement is commonly entered into by gas storage facilities operated by independent entities. It enables gas storage providers to offer storage services to various customers, including gas marketers, local distribution companies (LDCs), and industrial users. The agreement typically addresses contractual obligations, pricing structures, quality specifications, and terms for gas injection and withdrawal. 3. Firm and Interruptible Storage Service Agreement: This agreement offers both firm and interruptible storage services to gas market participants. The firm service provides customers with a guaranteed storage capacity for a specified period, while the interruptible service allows for the temporary interruption of service if the storage capacity is needed for other purposes. These agreements delineate the rights and responsibilities of the parties, payment terms, inventory management, and service interruptions. 4. Seasonal Storage Agreement: This agreement focuses on the seasonal storage of natural gas, typically during periods of low demand or surplus supply. It enables customers to store excess gas during the off season, allowing them to meet higher demand during peak seasons without relying solely on the supply network. The agreement outlines the terms for injection and withdrawal during specific seasons, pricing mechanisms, and the duration of storage. Regardless of the type, the Illinois Gas Storage Agreement plays a crucial role in ensuring the efficient and reliable storage and distribution of natural gas, promoting stability in supply and meeting the energy needs of various entities across the state.

The Illinois Gas Storage Agreement is a legal contract that outlines the terms and conditions for the storage of natural gas in the state of Illinois. This agreement is commonly used by individuals, businesses, and gas companies involved in the storage and distribution of natural gas. Keywords: Illinois Gas Storage Agreement, natural gas, storage, terms and conditions, individuals, businesses, gas companies, distribution There are different types of Gas Storage Agreements in Illinois, depending on the specific requirements and needs of the parties involved. Some types include: 1. Underground Natural Gas Storage Agreement: This type of agreement focuses on the storage of natural gas in underground facilities such as depleted natural gas reservoirs, salt caverns, or aquifer storage. It covers aspects like injection and withdrawal rights, capacity limitations, pricing considerations, and operational procedures. 2. Merchant Gas Storage Agreement: This type of agreement is commonly entered into by gas storage facilities operated by independent entities. It enables gas storage providers to offer storage services to various customers, including gas marketers, local distribution companies (LDCs), and industrial users. The agreement typically addresses contractual obligations, pricing structures, quality specifications, and terms for gas injection and withdrawal. 3. Firm and Interruptible Storage Service Agreement: This agreement offers both firm and interruptible storage services to gas market participants. The firm service provides customers with a guaranteed storage capacity for a specified period, while the interruptible service allows for the temporary interruption of service if the storage capacity is needed for other purposes. These agreements delineate the rights and responsibilities of the parties, payment terms, inventory management, and service interruptions. 4. Seasonal Storage Agreement: This agreement focuses on the seasonal storage of natural gas, typically during periods of low demand or surplus supply. It enables customers to store excess gas during the off season, allowing them to meet higher demand during peak seasons without relying solely on the supply network. The agreement outlines the terms for injection and withdrawal during specific seasons, pricing mechanisms, and the duration of storage. Regardless of the type, the Illinois Gas Storage Agreement plays a crucial role in ensuring the efficient and reliable storage and distribution of natural gas, promoting stability in supply and meeting the energy needs of various entities across the state.