Massachusetts 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. Keywords: Massachusetts, gas storage agreement, types Description: The Massachusetts Gas Storage Agreement refers to a legally binding contract that governs the utilization, operations, and maintenance of gas storage facilities in the state of Massachusetts. This agreement aims to establish the rights, responsibilities, and obligations of the parties involved in storing natural gas within the state's storage infrastructure. One of the primary purposes of the Massachusetts Gas Storage Agreement is to ensure the reliable and efficient supply of natural gas to meet the energy needs of the region. It sets forth the terms under which natural gas can be stored, withdrawn, and delivered to customers or other entities within the state. The agreement also outlines the conditions for accessing and using gas storage facilities owned and operated by various entities across Massachusetts. There are several types of gas storage agreements that exist in Massachusetts: 1. Commercial Storage Agreements: These are entered into between gas storage facility operators and private companies or utilities seeking to store natural gas for future use. These agreements outline the terms for capacity allocation, injection and withdrawal rights, pricing mechanisms, and maintenance obligations. 2. Interconnection Agreements: These agreements are signed between gas storage facility operators and pipeline owners or operators. They regulate the interconnection points where natural gas is injected into or withdrawn from storage. The terms cover technical specifications, pressure requirements, flow rates, and allocation procedures. 3. Capacity Release Agreements: These contracts allow gas storage facility operators to lease or release a portion of their storage capacity to third parties, typically on a short-term basis. Capacity release agreements have specific provisions relating to the duration, rates, and terms of the lease, as well as nomination and scheduling procedures. 4. Tariff Agreements: Gas storage facility operators may establish tariffs that outline the rates, fees, and terms applicable to utilizing their storage facilities. Tariff agreements are subject to approval by regulatory authorities and provide transparency on pricing, access rights, and other operational rules for storage service users. In summary, the Massachusetts Gas Storage Agreement is a comprehensive contractual framework that governs the management and operation of gas storage facilities in the state. These agreements encompass commercial aspects, technical specifications, interconnection points, capacity lease options, and tariff regulations to ensure smooth operation and access to natural gas storage services within Massachusetts.

Keywords: Massachusetts, gas storage agreement, types Description: The Massachusetts Gas Storage Agreement refers to a legally binding contract that governs the utilization, operations, and maintenance of gas storage facilities in the state of Massachusetts. This agreement aims to establish the rights, responsibilities, and obligations of the parties involved in storing natural gas within the state's storage infrastructure. One of the primary purposes of the Massachusetts Gas Storage Agreement is to ensure the reliable and efficient supply of natural gas to meet the energy needs of the region. It sets forth the terms under which natural gas can be stored, withdrawn, and delivered to customers or other entities within the state. The agreement also outlines the conditions for accessing and using gas storage facilities owned and operated by various entities across Massachusetts. There are several types of gas storage agreements that exist in Massachusetts: 1. Commercial Storage Agreements: These are entered into between gas storage facility operators and private companies or utilities seeking to store natural gas for future use. These agreements outline the terms for capacity allocation, injection and withdrawal rights, pricing mechanisms, and maintenance obligations. 2. Interconnection Agreements: These agreements are signed between gas storage facility operators and pipeline owners or operators. They regulate the interconnection points where natural gas is injected into or withdrawn from storage. The terms cover technical specifications, pressure requirements, flow rates, and allocation procedures. 3. Capacity Release Agreements: These contracts allow gas storage facility operators to lease or release a portion of their storage capacity to third parties, typically on a short-term basis. Capacity release agreements have specific provisions relating to the duration, rates, and terms of the lease, as well as nomination and scheduling procedures. 4. Tariff Agreements: Gas storage facility operators may establish tariffs that outline the rates, fees, and terms applicable to utilizing their storage facilities. Tariff agreements are subject to approval by regulatory authorities and provide transparency on pricing, access rights, and other operational rules for storage service users. In summary, the Massachusetts Gas Storage Agreement is a comprehensive contractual framework that governs the management and operation of gas storage facilities in the state. These agreements encompass commercial aspects, technical specifications, interconnection points, capacity lease options, and tariff regulations to ensure smooth operation and access to natural gas storage services within Massachusetts.