Indiana Gas Storage Service Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-1014
• Format: Word; Rich Text

Description

This is an agreement for gas storage service. Indiana Gas Storage Service Agreement (IGS SA) is a legally binding contract between a gas storage service provider and a gas storage customer in the state of Indiana. It outlines the terms and conditions governing the storage and retrieval of natural gas in underground storage facilities. This comprehensive agreement ensures smooth operations, transparency, and fair dealings between the involved parties. The IGS SA ensures that natural gas storage services are provided in a reliable, efficient, and safe manner. It sets forth the responsibilities and rights of both the storage service provider and the customer, ensuring mutual understanding and compliance with relevant regulations. The agreement typically includes detailed provisions covering topics such as: 1. Capacity Rights: The agreement specifies the amount of storage capacity a customer is entitled to, which may be measured in volume or energy equivalents. It also defines how this capacity can be allocated and managed. 2. Injection and Withdrawal Services: The IGS SA outlines the procedures and limitations for the injection (storing) and withdrawal (retrieval) of natural gas. It includes information on scheduling, notice periods, nomination processes, and any associated fees. 3. Billing and Payment: This section provides clarity on the calculation and invoicing of storage charges, as well as the payment terms and methods. It may also cover penalties for late payments and resolution procedures for billing disputes. 4. Operational Procedures: The agreement details the operational requirements, safety standards, and maintenance obligations for the storage facility. It addresses issues such as facility access, inventory management, testing procedures, and emergency response protocols. 5. Force Mature and Termination: The IGS SA defines the conditions under which either party can be excused from fulfilling their obligations due to unforeseen circumstances beyond their control (force majeure). It also outlines the conditions for the termination of the agreement, including notice periods and any applicable penalties. It is important to note that while the core components of the IGS SA remain consistent, specific terms and conditions may differ between different agreements based on factors such as the storage facility, the duration of the contract, and the individual needs of the customer. Examples of different types of Indiana Gas Storage Service Agreements may include: 1. Firm Storage Service Agreement: This type of agreement provides customers with guaranteed access to a specific amount of storage capacity for a fixed duration. The customer has the right to inject and withdraw gas according to their needs without any restrictions, ensuring reliability and consistency. 2. Interruptible Storage Service Agreement: Under this agreement, customers have access to storage capacity on a non-guaranteed basis. Their ability to inject or withdraw gas may be curtailed if the facility reaches its maximum capacity or in situations of high demand. While this agreement offers lower costs, the customer must be prepared for potential interruptions in service. 3. Seasonal Storage Service Agreement: This type of agreement allows customers to store gas during specific seasons of the year when demand is lower and withdraw it during high-demand periods. It provides flexibility to customers who require storage services only for certain months or periods. By understanding the concepts and variations within the Indiana Gas Storage Service Agreement framework, customers and service providers can enter into agreements that meet their specific requirements, ensure efficient gas storage operations, and foster a healthy and reliable natural gas supply in the state of Indiana.

Indiana Gas Storage Service Agreement (IGS SA) is a legally binding contract between a gas storage service provider and a gas storage customer in the state of Indiana. It outlines the terms and conditions governing the storage and retrieval of natural gas in underground storage facilities. This comprehensive agreement ensures smooth operations, transparency, and fair dealings between the involved parties. The IGS SA ensures that natural gas storage services are provided in a reliable, efficient, and safe manner. It sets forth the responsibilities and rights of both the storage service provider and the customer, ensuring mutual understanding and compliance with relevant regulations. The agreement typically includes detailed provisions covering topics such as: 1. Capacity Rights: The agreement specifies the amount of storage capacity a customer is entitled to, which may be measured in volume or energy equivalents. It also defines how this capacity can be allocated and managed. 2. Injection and Withdrawal Services: The IGS SA outlines the procedures and limitations for the injection (storing) and withdrawal (retrieval) of natural gas. It includes information on scheduling, notice periods, nomination processes, and any associated fees. 3. Billing and Payment: This section provides clarity on the calculation and invoicing of storage charges, as well as the payment terms and methods. It may also cover penalties for late payments and resolution procedures for billing disputes. 4. Operational Procedures: The agreement details the operational requirements, safety standards, and maintenance obligations for the storage facility. It addresses issues such as facility access, inventory management, testing procedures, and emergency response protocols. 5. Force Mature and Termination: The IGS SA defines the conditions under which either party can be excused from fulfilling their obligations due to unforeseen circumstances beyond their control (force majeure). It also outlines the conditions for the termination of the agreement, including notice periods and any applicable penalties. It is important to note that while the core components of the IGS SA remain consistent, specific terms and conditions may differ between different agreements based on factors such as the storage facility, the duration of the contract, and the individual needs of the customer. Examples of different types of Indiana Gas Storage Service Agreements may include: 1. Firm Storage Service Agreement: This type of agreement provides customers with guaranteed access to a specific amount of storage capacity for a fixed duration. The customer has the right to inject and withdraw gas according to their needs without any restrictions, ensuring reliability and consistency. 2. Interruptible Storage Service Agreement: Under this agreement, customers have access to storage capacity on a non-guaranteed basis. Their ability to inject or withdraw gas may be curtailed if the facility reaches its maximum capacity or in situations of high demand. While this agreement offers lower costs, the customer must be prepared for potential interruptions in service. 3. Seasonal Storage Service Agreement: This type of agreement allows customers to store gas during specific seasons of the year when demand is lower and withdraw it during high-demand periods. It provides flexibility to customers who require storage services only for certain months or periods. By understanding the concepts and variations within the Indiana Gas Storage Service Agreement framework, customers and service providers can enter into agreements that meet their specific requirements, ensure efficient gas storage operations, and foster a healthy and reliable natural gas supply in the state of Indiana.