New Hampshire 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. The New Hampshire Gas Storage Agreement is a legal document that outlines the terms and conditions between parties involved in the storage of natural gas in New Hampshire. This agreement is designed to govern the rights, responsibilities, and obligations of the gas storage service provider and the gas storage customer. Under this agreement, the gas storage service provider grants the gas storage customer the right to store a specific volume of natural gas in a designated storage facility located in New Hampshire. The customer agrees to pay a storage fee based on the amount of gas stored and the duration of storage. One type of New Hampshire Gas Storage Agreement is the Firm Storage Service Agreement. This type of agreement ensures that the gas storage customer has a guaranteed storage capacity available to them at all times. The customer pays a premium for this service, which guarantees the storage provider will always have the requested storage volume available. Another type of agreement is the Interruptible Storage Service Agreement. This allows the gas storage customer to store gas at a lower cost, but with the understanding that the storage provider can interrupt or curtail the storage service at times of high demand or emergencies. This type of agreement is less expensive but offers less certainty and reliability for the customer. The New Hampshire Gas Storage Agreement typically includes key provisions such as the duration of the agreement, permissible uses of the stored gas, payment terms, conditions for service interruptions, liability and indemnification clauses, dispute resolution mechanisms, and termination procedures. The agreement also addresses the responsibility of the gas storage provider to maintain the storage facility and ensure its compliance with safety and environmental regulations. It is important for both parties to carefully review and negotiate the terms of the New Hampshire Gas Storage Agreement to ensure that their rights and interests are protected. Seeking legal advice is recommended to fully understand the implications and obligations of this agreement.

The New Hampshire Gas Storage Agreement is a legal document that outlines the terms and conditions between parties involved in the storage of natural gas in New Hampshire. This agreement is designed to govern the rights, responsibilities, and obligations of the gas storage service provider and the gas storage customer. Under this agreement, the gas storage service provider grants the gas storage customer the right to store a specific volume of natural gas in a designated storage facility located in New Hampshire. The customer agrees to pay a storage fee based on the amount of gas stored and the duration of storage. One type of New Hampshire Gas Storage Agreement is the Firm Storage Service Agreement. This type of agreement ensures that the gas storage customer has a guaranteed storage capacity available to them at all times. The customer pays a premium for this service, which guarantees the storage provider will always have the requested storage volume available. Another type of agreement is the Interruptible Storage Service Agreement. This allows the gas storage customer to store gas at a lower cost, but with the understanding that the storage provider can interrupt or curtail the storage service at times of high demand or emergencies. This type of agreement is less expensive but offers less certainty and reliability for the customer. The New Hampshire Gas Storage Agreement typically includes key provisions such as the duration of the agreement, permissible uses of the stored gas, payment terms, conditions for service interruptions, liability and indemnification clauses, dispute resolution mechanisms, and termination procedures. The agreement also addresses the responsibility of the gas storage provider to maintain the storage facility and ensure its compliance with safety and environmental regulations. It is important for both parties to carefully review and negotiate the terms of the New Hampshire Gas Storage Agreement to ensure that their rights and interests are protected. Seeking legal advice is recommended to fully understand the implications and obligations of this agreement.