Nebraska Precedent Agreement for Firm Natural Gas Storage Service is a legal document that establishes the terms and conditions for the storage of natural gas in Nebraska. This agreement is crucial in facilitating the smooth operation and utilization of natural gas storage services. Keywords: Nebraska, Precedent Agreement, Firm Natural Gas Storage Service. The Nebraska Precedent Agreement for Firm Natural Gas Storage Service is designed to regulate the provision of firm storage services to natural gas market participants in the state of Nebraska. The agreement sets forth the obligations, rights, and responsibilities of both the storage service provider and the customer. Under this agreement, the storage service provider is responsible for maintaining and operating the natural gas storage facilities in compliance with regulatory requirements and industry standards. These facilities typically include underground storage reservoirs, pipelines, compressors, and related infrastructure necessary for the storage and withdrawal of natural gas. Customers entering into a Nebraska Precedent Agreement for Firm Natural Gas Storage Service can access various types of storage services tailored to their specific needs. Some common types of storage services covered by this agreement include: 1. Injection Service: This service allows customers to inject natural gas into the storage reservoir during periods of low demand or excess supply. It enables them to store excess natural gas for future use, such as during peak demand seasons or in anticipation of price fluctuations. 2. Withdrawal Service: With this service, customers have the right to withdraw stored natural gas from the reservoir when the demand exceeds supply or during peak demand periods. It provides flexibility in meeting immediate market needs and ensures a reliable supply of natural gas. 3. Storage Capacity: The agreement also addresses the allocation and availability of storage capacity. It outlines the process for reserving and allocating storage capacity to customers, ensuring fair and equitable access to the storage facilities. 4. Scheduling and Nomination: Customers are required to adhere to scheduling and nomination procedures outlined in the agreement. This ensures a coordinated and efficient use of the storage facilities, allowing for accurate supply planning and management. 5. Tariffs and Rates: The agreement outlines the tariffs and rates applicable to the firm natural gas storage service. It addresses the cost of storage capacity, injection and withdrawal volumes, and any additional charges or penalties associated with non-compliance. In summary, the Nebraska Precedent Agreement for Firm Natural Gas Storage Service is a crucial legal document governing the provision of natural gas storage services in Nebraska. It provides a comprehensive framework within which storage service providers and customers can efficiently and effectively store and withdraw natural gas, ensuring a reliable and resilient supply to meet market demand.
Nebraska Precedent Agreement for Firm Natural Gas Storage Service
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