Montana 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. Montana Gas Storage Service Agreement is a legal contract that governs the terms and conditions for the storage of natural gas in Montana. This agreement allows gas companies and storage operators to use designated storage facilities to store and withdraw natural gas as per their requirements. The Montana Gas Storage Service Agreement typically includes important provisions such as the duration of the agreement, storage rates, nomination procedures, rights and responsibilities of both parties, capacity rights, and dispute resolution mechanisms. It establishes a legally binding framework for the storage services offered by the gas storage operator. There are several types of Montana Gas Storage Service Agreement, each tailored to specific needs and circumstances. Some commonly known types include: 1. Firm Service Agreement: This type of agreement provides the gas shipper with a committed and uninterrupted storage service for a specific term. The gas capacity is reserved exclusively for the shipper, ensuring a reliable supply of gas throughout the agreed-upon period. 2. Interruptible Service Agreement: Contrary to the firm service agreement, the interruptible service agreement offers non-guaranteed storage services. It is typically less expensive but allows the storage operator to interrupt or curtail service during periods of high demand or system constraints. 3. Swing Service Agreement: A swing service agreement allows flexibility for the gas shipper in terms of the amount of gas to be injected or withdrawn within a specified range throughout the contract term. It provides the shipper with the ability to adjust their gas supply as per market demands. 4. Park and Loan Service Agreement: This type of agreement enables gas shippers to park excess gas or loan gas from storage facilities. Shippers can "park" gas when supply exceeds demand and then "loan" gas back when demand surpasses supply, providing flexibility in managing inventory levels. It is worth noting that the specific terms and conditions of a Montana Gas Storage Service Agreement may vary depending on the storage operator and the unique needs of the parties involved. Gas companies seeking storage services in Montana should carefully review and negotiate the terms of the agreement to ensure it aligns with their requirements and provides certainty for their gas storage needs.

Montana Gas Storage Service Agreement is a legal contract that governs the terms and conditions for the storage of natural gas in Montana. This agreement allows gas companies and storage operators to use designated storage facilities to store and withdraw natural gas as per their requirements. The Montana Gas Storage Service Agreement typically includes important provisions such as the duration of the agreement, storage rates, nomination procedures, rights and responsibilities of both parties, capacity rights, and dispute resolution mechanisms. It establishes a legally binding framework for the storage services offered by the gas storage operator. There are several types of Montana Gas Storage Service Agreement, each tailored to specific needs and circumstances. Some commonly known types include: 1. Firm Service Agreement: This type of agreement provides the gas shipper with a committed and uninterrupted storage service for a specific term. The gas capacity is reserved exclusively for the shipper, ensuring a reliable supply of gas throughout the agreed-upon period. 2. Interruptible Service Agreement: Contrary to the firm service agreement, the interruptible service agreement offers non-guaranteed storage services. It is typically less expensive but allows the storage operator to interrupt or curtail service during periods of high demand or system constraints. 3. Swing Service Agreement: A swing service agreement allows flexibility for the gas shipper in terms of the amount of gas to be injected or withdrawn within a specified range throughout the contract term. It provides the shipper with the ability to adjust their gas supply as per market demands. 4. Park and Loan Service Agreement: This type of agreement enables gas shippers to park excess gas or loan gas from storage facilities. Shippers can "park" gas when supply exceeds demand and then "loan" gas back when demand surpasses supply, providing flexibility in managing inventory levels. It is worth noting that the specific terms and conditions of a Montana Gas Storage Service Agreement may vary depending on the storage operator and the unique needs of the parties involved. Gas companies seeking storage services in Montana should carefully review and negotiate the terms of the agreement to ensure it aligns with their requirements and provides certainty for their gas storage needs.