New Jersey Gas Storage Service Agreement is a legal contract between a gas storage company and a gas customer in New Jersey, outlining the terms and conditions of storing natural gas or liquefied natural gas (LNG) in the state. This agreement is important for businesses or individuals who require temporary or long-term gas storage services to meet their energy needs. The New Jersey Gas Storage Service Agreement typically includes various key elements, which may differ based on the specific type of storage service being utilized. Some common provisions found in these agreements include: 1. Parties: The agreement starts by identifying the gas storage company (provider) and the gas customer (contracting party) entering into the agreement. Their legal names and contact details are mentioned. 2. Storage Capacity: The agreement specifies the storage capacity being allocated to the gas customer. It mentions the maximum volume of natural gas or LNG that can be stored at any given time. 3. Term: The agreement defines the duration of the storage service, including the start date, end date, and provisions for renewal or termination. 4. Storage Fees: It outlines the payment terms, rates, and any additional charges associated with the gas storage service. This section may include details about the billing cycle, invoicing, and payment methods. 5. Operations and Maintenance: The agreement may set out the responsibilities and obligations of both parties regarding the maintenance, operation, and safety of the gas storage facility. It may cover inspections, repairs, and compliance with industry standards and regulations. 6. Force Mature: This section deals with unforeseen events or circumstances beyond the control of either party, such as natural disasters, acts of terrorism, or governmental regulations, which may temporarily suspend or terminate the agreement. 7. Insurance and Liability: The agreement may require the gas customer to maintain adequate insurance coverage for its stored gas and address liability for any accidents, damages, or losses that may occur during the storage period. 8. Dispute Resolution: It includes provisions for resolving any disagreements or disputes that may arise between the parties, usually through arbitration or mediation. Different types or categories of New Jersey Gas Storage Service Agreements might include: 1. Seasonal Storage Agreement: Specifically designed for customers who require gas storage services and capacity during specific seasons, such as winter, when demand is higher. 2. Peak-Shaving Storage Agreement: This type of agreement allows customers to store excess natural gas during periods of low demand and utilize it during peak demand seasons, effectively reducing the reliance on the gas supplier. 3. Strategic Storage Agreement: These agreements are for long-term storage needs to enhance energy security and reliability. They involve large-scale storage capacity contracts, providing a stable and consistent gas supply throughout the year. By understanding the various types of New Jersey Gas Storage Service Agreements and their key components, businesses and individuals can make informed decisions when entering into contracts to fulfill their gas storage requirements.
New Jersey Gas Storage Service Agreement
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How to fill out New Jersey Gas Storage Service Agreement?
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FAQ
Terminal Use Agreement means an agreement between Owner and a Customer pursuant to which Owner agrees to accept, store and regasify LNG delivered by a Customer to the Facility and deliver Natural Gas to the Customer.
An agreement is a manifestation of mutual assent by two or more persons to one another. It is a meeting of the minds in a common intention, and is made through offer and acceptance. An agreement can be shown from words, conduct, and in some cases, even silence.
Terminalling means handling and storage of Raw Materials, Intermediates, and/or Finished Products.
Definition. An agreement that is signed between a terminal operator and an oil company, which wants to store product at a terminal.
Depleted natural gas or oil fields function as gas storage reservoirs in California. Natural gas is injected into the storage reservoirs through gas storage wells and stored until withdrawn for use. There are 12 underground natural gas storage fields in the state.
Terminal Contracts means any Contract of any Target Company for the primary purpose of providing terminal, warehouse, storage, loading and unloading and other similar services at or relating to a terminal facility.