North Dakota Precedent Agreement for Firm Natural Gas Storage Service

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-1089
• Format: Word; Rich Text

Description

This form is a precedent agreement for a firm national gas storage service. The North Dakota Precedent Agreement for Firm Natural Gas Storage Service is a legal document that outlines the terms and conditions between a natural gas storage service provider and its customers operating in North Dakota. This agreement sets the framework for storing and withdrawing natural gas in a firm and secure manner. Keywords: North Dakota, Precedent Agreement, Natural Gas Storage Service, Firm, Terms and Conditions, Customers There are two primary types of North Dakota Precedent Agreements for Firm Natural Gas Storage Service: 1. System Storage Precedent Agreement: This type of agreement allows customers to store natural gas in a central storage facility provided by the storage service provider. The agreement specifies the terms of storage, such as capacity, injection and withdrawal rates, and other operational parameters. 2. Field Storage Precedent Agreement: In this type of agreement, customers have the flexibility to store natural gas in designated field storage locations within North Dakota. The agreement provides details on the specific storage fields available for use, allocation methodologies, and other relevant terms. The North Dakota Precedent Agreement for Firm Natural Gas Storage Service covers important aspects such as: 1. Capacity Rights: It defines the quantity of natural gas that the customer can store in the storage facility or designated field locations. The agreement outlines the conditions for reserving and utilizing these capacity rights. 2. Injection and Withdrawal Rates: The agreement specifies the maximum rates at which the customer can inject natural gas into the storage facility or withdraw it. These rates are crucial for maintaining a balanced and efficient operation of the storage service. 3. Operational Conditions: This section describes the operational guidelines and requirements for using the storage service. It includes procedures for scheduling injections and withdrawals, notification timelines, maintenance and repair protocols, and safety measures. 4. Billing and Payment Terms: The agreement sets forth the invoicing and payment procedures, including the frequency of billing, payment timelines, and any applicable penalties for late or non-payment. 5. Force Mature: This clause addresses unforeseen and uncontrollable events that may impact the ability of the storage service provider to fulfill its obligations. It outlines the rights and responsibilities of both parties in case of events like natural disasters, strikes, or government actions. 6. Termination and Renewal: The agreement specifies the conditions under which either party can terminate the contract. It may include provisions for notice periods, penalties for early termination, and options for contract renewal or extension. Overall, the North Dakota Precedent Agreement for Firm Natural Gas Storage Service ensures a transparent and mutually beneficial relationship between the storage service provider and its customers, promoting efficient and reliable natural gas storage operations in North Dakota.

The North Dakota Precedent Agreement for Firm Natural Gas Storage Service is a legal document that outlines the terms and conditions between a natural gas storage service provider and its customers operating in North Dakota. This agreement sets the framework for storing and withdrawing natural gas in a firm and secure manner. Keywords: North Dakota, Precedent Agreement, Natural Gas Storage Service, Firm, Terms and Conditions, Customers There are two primary types of North Dakota Precedent Agreements for Firm Natural Gas Storage Service: 1. System Storage Precedent Agreement: This type of agreement allows customers to store natural gas in a central storage facility provided by the storage service provider. The agreement specifies the terms of storage, such as capacity, injection and withdrawal rates, and other operational parameters. 2. Field Storage Precedent Agreement: In this type of agreement, customers have the flexibility to store natural gas in designated field storage locations within North Dakota. The agreement provides details on the specific storage fields available for use, allocation methodologies, and other relevant terms. The North Dakota Precedent Agreement for Firm Natural Gas Storage Service covers important aspects such as: 1. Capacity Rights: It defines the quantity of natural gas that the customer can store in the storage facility or designated field locations. The agreement outlines the conditions for reserving and utilizing these capacity rights. 2. Injection and Withdrawal Rates: The agreement specifies the maximum rates at which the customer can inject natural gas into the storage facility or withdraw it. These rates are crucial for maintaining a balanced and efficient operation of the storage service. 3. Operational Conditions: This section describes the operational guidelines and requirements for using the storage service. It includes procedures for scheduling injections and withdrawals, notification timelines, maintenance and repair protocols, and safety measures. 4. Billing and Payment Terms: The agreement sets forth the invoicing and payment procedures, including the frequency of billing, payment timelines, and any applicable penalties for late or non-payment. 5. Force Mature: This clause addresses unforeseen and uncontrollable events that may impact the ability of the storage service provider to fulfill its obligations. It outlines the rights and responsibilities of both parties in case of events like natural disasters, strikes, or government actions. 6. Termination and Renewal: The agreement specifies the conditions under which either party can terminate the contract. It may include provisions for notice periods, penalties for early termination, and options for contract renewal or extension. Overall, the North Dakota Precedent Agreement for Firm Natural Gas Storage Service ensures a transparent and mutually beneficial relationship between the storage service provider and its customers, promoting efficient and reliable natural gas storage operations in North Dakota.