North Dakota Gas Storage Agreement refers to a contractual agreement between a gas storage facility provider and a gas storage user in the state of North Dakota. This agreement outlines the terms and conditions under which natural gas can be stored, withdrawn, and managed within the storage facility. It is an essential legal document that governs the rights and responsibilities of both parties involved. The North Dakota Gas Storage Agreement typically includes various key elements such as: 1. Storage Capacity: This section details the allocated storage capacity for the gas storage user within the facility. It specifies the volume of natural gas that can be stored by the user and may define any limitations on the usage or withdrawal rate. 2. Term and Renewal: The agreement specifies the duration of the storage contract, including any options for renewal or extension. It may also outline the procedures and conditions for termination or early termination of the agreement. 3. Injection and Withdrawal Procedures: This section describes the procedures and protocols for injecting and withdrawing natural gas from the storage facility. It may include information on scheduling, nomination, and confirmation processes to ensure an efficient and organized gas exchange. 4. Pricing and Payment Terms: The agreement defines the pricing mechanism for the storage services provided. It may include details about the fees, rates, and methods of payment, including any penalties or surcharges applicable for non-compliance with the agreement terms. 5. Force Mature: This clause covers unforeseen events or circumstances that could affect the performance or fulfillment of the agreement, such as natural disasters or government-imposed regulations. It outlines the rights, obligations, and potential remedies for both parties in case of force majeure situations. 6. Liability and Insurance: This section addresses the liability and insurance obligations of both the gas storage provider and the user. It may specify the required insurance coverage, indemnification, and limitations of liability for any damages or losses incurred during storage operations. Different types of North Dakota Gas Storage Agreements include: 1. Firm Storage Agreement: This type of agreement ensures a specific amount of storage capacity for the gas storage user, guaranteeing the availability of the reserved capacity for their exclusive use. 2. Interruptible Storage Agreement: Unlike firm storage agreements, interruptible storage agreements do not guarantee the availability of storage capacity. The gas storage provider can interrupt or curtail the user's access to storage services during periods of high demand or system constraints. 3. Seasonal Storage Agreement: This type of agreement allows for the storage of natural gas during specific seasons or periods of the year when gas demand is higher or when natural gas prices are more favorable. Overall, the North Dakota Gas Storage Agreement is a crucial contract that establishes the framework for efficient and reliable natural gas storage services, ensuring smooth operations and providing legal protection to both the storage facility provider and the user.
North Dakota Gas Storage Agreement
Category:
State:
Multi-State
Control #:
US-OG-723
Format:
Word;
Rich Text
Instant download
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.
North Dakota Gas Storage Agreement refers to a contractual agreement between a gas storage facility provider and a gas storage user in the state of North Dakota. This agreement outlines the terms and conditions under which natural gas can be stored, withdrawn, and managed within the storage facility. It is an essential legal document that governs the rights and responsibilities of both parties involved. The North Dakota Gas Storage Agreement typically includes various key elements such as: 1. Storage Capacity: This section details the allocated storage capacity for the gas storage user within the facility. It specifies the volume of natural gas that can be stored by the user and may define any limitations on the usage or withdrawal rate. 2. Term and Renewal: The agreement specifies the duration of the storage contract, including any options for renewal or extension. It may also outline the procedures and conditions for termination or early termination of the agreement. 3. Injection and Withdrawal Procedures: This section describes the procedures and protocols for injecting and withdrawing natural gas from the storage facility. It may include information on scheduling, nomination, and confirmation processes to ensure an efficient and organized gas exchange. 4. Pricing and Payment Terms: The agreement defines the pricing mechanism for the storage services provided. It may include details about the fees, rates, and methods of payment, including any penalties or surcharges applicable for non-compliance with the agreement terms. 5. Force Mature: This clause covers unforeseen events or circumstances that could affect the performance or fulfillment of the agreement, such as natural disasters or government-imposed regulations. It outlines the rights, obligations, and potential remedies for both parties in case of force majeure situations. 6. Liability and Insurance: This section addresses the liability and insurance obligations of both the gas storage provider and the user. It may specify the required insurance coverage, indemnification, and limitations of liability for any damages or losses incurred during storage operations. Different types of North Dakota Gas Storage Agreements include: 1. Firm Storage Agreement: This type of agreement ensures a specific amount of storage capacity for the gas storage user, guaranteeing the availability of the reserved capacity for their exclusive use. 2. Interruptible Storage Agreement: Unlike firm storage agreements, interruptible storage agreements do not guarantee the availability of storage capacity. The gas storage provider can interrupt or curtail the user's access to storage services during periods of high demand or system constraints. 3. Seasonal Storage Agreement: This type of agreement allows for the storage of natural gas during specific seasons or periods of the year when gas demand is higher or when natural gas prices are more favorable. Overall, the North Dakota Gas Storage Agreement is a crucial contract that establishes the framework for efficient and reliable natural gas storage services, ensuring smooth operations and providing legal protection to both the storage facility provider and the user.
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