Louisiana Precedent Agreement for Firm Natural Gas Storage Service is a legally binding contract that outlines the conditions, terms, and expectations between the firm seeking natural gas storage services and the storage service provider located in Louisiana. This agreement is crucial for effectively managing and maintaining natural gas reserves, ensuring a reliable supply for various industries and businesses. This storage service agreement defines the responsibilities of each party involved, addressing matters such as the duration of the agreement, storage capacity, withdrawal and injection rights, operational procedures, fees, penalties, and any potential force majeure events that may affect the storage services. The agreement is customized to cater to the specific needs and requirements of the natural gas storage provider and may vary between different companies. There are several types of Louisiana Precedent Agreements for Firm Natural Gas Storage Service based on the storage services offered and the particular conditions agreed upon. These may include: 1. Precedent Agreement for Firm Capacity: This type of agreement emphasizes the provision of a specific storage capacity by the storage service provider to the firm. It outlines the terms and conditions of the firm's reserved storage capacity and the obligations of the storage service provider. 2. Precedent Agreement for Firm Injection and Withdrawal Rights: In this case, the agreement focuses on specifying the rights of the firm to inject and withdraw natural gas from the storage facility within predetermined parameters. It includes details regarding the timing, quantity, and terms of gas injection and withdrawal. 3. Precedent Agreement for Seasonal Gas Storage Services: This type of agreement caters to firms with seasonal gas storage requirements. It allows for the storage of natural gas during specific periods of the year when demand fluctuates, ensuring a consistent supply for customers. 4. Precedent Agreement for Long-Term Natural Gas Storage Services: This agreement pertains to long-term storage needs where the firm requires storage services for an extended duration. It includes provisions for pricing, renewal, and termination terms, ensuring a stable supply of natural gas for the firm's operations. Overall, the Louisiana Precedent Agreement for Firm Natural Gas Storage Service provides a framework for a mutually beneficial relationship between the firm and the storage service provider. It safeguards both parties' interests, guarantees the availability of stored natural gas, and enables efficient management of natural gas reserves.
Louisiana Precedent Agreement for Firm Natural Gas Storage Service
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Most LNG contracts will include a modest constant, typically less than $1 mmbtu, which generally bears some implicit relationship to shipping costs. LNG pricing in Asian markets, has historically taken the form of an ?S-curve? (see also s-curve). There are often floors and caps on the LNG price. LNG pricing; LNG contracts ? HebrewEnergy - Energy Dictionary hebrewenergy.com ? lng-prices-lng-pricing-... hebrewenergy.com ? lng-prices-lng-pricing-...
By way of background, a typical LNG SPA contains a clause that specifies the ?annual contract quantity? or ?ACQ?, which is the total quantity of LNG that the seller may be required to sell and deliver, and the buyer may be required to take and receive, over the course of each contract year. Re-examining the take-or-pay obligation in LNG sale ... - Lexology lexology.com ? library ? detail lexology.com ? library ? detail
There are three main types of liquefaction cycles: cascade, mixed refrigerant, and expansion cycles. Most commercially available liquefaction processes are based on these cycles or a combination of these cycles. Liquified natural gas (LNG) - PetroWiki spe.org ? Liquified_natural_gas_(LNG) spe.org ? Liquified_natural_gas_(LNG)
In its compact liquid form, natural gas can be shipped in special tankers to terminals around the world. At these terminals, the LNG is returned to its gaseous state and transported by pipeline to distribution companies, industrial consumers, and power plants.
The take or pay clause A take or pay provision requires the buyer to take and pay for a quantity of LNG in a contract year, or otherwise pay an agreed price for any LNG not taken.
Firm contracts and interruptible contracts are two broad types of contracts for purchasing natural gas, although the legal obligations for delivering natural gas between a fuel supplier and a natural gas-fired power plant can vary, depending on their specific agreements. Natural gas power plants purchase fuel using different types of contracts eia.gov ? todayinenergy ? detail eia.gov ? todayinenergy ? detail
GSA: Gas Sales Agreement. SPA: Sales & Purchase Agreement. MSA: Master Sale Agreement.