The Kentucky Gas Storage Unit Agreement is a legally binding document that outlines the terms and conditions for establishing a gas storage unit on a depleted producing property in Kentucky. This agreement allows companies to utilize these properties for the purpose of storing natural gas, ensuring a stable and reliable supply for future use. Keywords: Kentucky, gas storage unit agreement, depleted producing property, natural gas, stable supply, reliable, future use. There are several types of Kentucky Gas Storage Unit Agreements, which can be categorized based on specific factors: 1. Depleted Reservoir Agreement: This type of agreement is used when the gas storage unit is established on a depleted reservoir, which refers to a previously producing gas field that has reached the end of its productive life. The agreement will outline the terms for the conversion of the depleted reservoir into a gas storage unit. 2. Underground Storage Agreement: This agreement is applicable when the gas storage unit is established in underground natural formations, such as depleted gas fields, aquifers, or salt caverns. It will detail the terms and conditions regarding the operation, maintenance, and access to the underground storage facilities. 3. Reservoir Management Agreement: In cases where multiple parties are involved in the operation and management of the gas storage unit, a reservoir management agreement may be used. This agreement outlines the responsibilities, rights, and obligations of all parties involved in the unit's establishment, operation, and financial aspects. 4. Use and Access Agreement: This agreement provides guidelines for the usage and access of the gas storage unit by different entities. It establishes rules for scheduling injections and withdrawals, determining storage capacity allocation, and ensuring fair usage among all participants. 5. Regulatory Compliance Agreement: To comply with the regulatory requirements set by the relevant authorities, companies establishing gas storage units in Kentucky may need to enter into a compliance agreement. This agreement ensures that all legal and environmental regulations are adhered to, safeguarding the interests of the community and the environment. By understanding and utilizing these different types of Kentucky Gas Storage Unit Agreements, companies can effectively establish and manage gas storage units on depleted producing properties, ensuring a reliable supply of natural gas for future use.
Kentucky Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property)
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FAQ
Natural Gas Storage occurs underground in depleted oil and gas fields, aquifer reservoirs, and salt caverns. Liquefied Natural Gas is stored above ground in tanks.
There are three principal types ? depleted gas reservoirs, aquifer reservoirs and salt cavern reservoirs. Each of these types has distinct physical and economic characteristics which govern the suitability of a particular type of storage type for a given application.
5.1 ? Salt formation or caverns: 5.2 ? Hard-rock caverns: 5.3 ? Depleted aquifers: 5.4 ? Depleted fields or reservoirs: 5.5 ? Mines:
Base gas (or cushion gas) is the volume of natural gas intended as permanent inventory in a storage reservoir to maintain adequate pressure and deliverability rates throughout the withdrawal season. Working gas capacity refers to total gas storage capacity minus base gas.
A unit agreement entails a BLM-approved agreement to cooperate in all facets of oil and gas production, without regard to lease boundaries and ownership. All unit agreements are subject to Onshore Oil and Gas Operations regulations (43 CFR Part 3160).
Natural gas, like most other commodities, can be stored for an indefinite period of time. The exploration, production, and transportation of natural gas takes time, and the natural gas that reaches its destination is not always needed right away, so it is injected into underground storage facilities.
Gas Storage Types Which types of Gas Storage exist? Natural gas storage facilities can initially be divided into two types: aboveground and underground storage. ... Cavern storage facilities. ... Porous rock storage facilities. ... Additional Information.
How is Natural Gas Stored? Natural gas is stored underground primarily in three reservoir types: depleted oil and natural gas fields, salt formations and depleted aquifers.