New Jersey 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. New Jersey Precedent Agreements for Firm Natural Gas Storage Service are legally binding contracts established between a natural gas storage service provider and a firm customer in the state of New Jersey. These agreements specify the terms and conditions under which the natural gas storage services will be provided. A typical New Jersey Precedent Agreement for Firm Natural Gas Storage Service includes a detailed description of the services to be rendered, the duration of the agreement, reservation rights, operational procedures, rates, and payment terms. The agreements are regulated by the New Jersey Board of Public Utilities (NJ BPU) to ensure fair practices and smooth operations. There are three primary types of New Jersey Precedent Agreements for Firm Natural Gas Storage Service: 1. Base Firm Storage Service Agreement: This agreement sets out the standard terms and conditions for natural gas storage services. It includes the reserved amount of storage capacity for a specific period, access rights, and injection and withdrawal schedules. Customers enter into this agreement when they require a consistent and reliable storage solution. 2. Interruptible Firm Storage Service Agreement: This agreement provides customers with natural gas storage services at lower rates, but with the understanding that their service could be interrupted during periods of high demand or system constraints. Customers who have alternative supply arrangements or can temporarily manage without gas supply during interruptions may opt for this agreement to reduce costs. 3. Seasonal Firm Storage Service Agreement: Specifically designed for customers with seasonal storage needs, this agreement allows customers to reserve storage capacity for a limited period during peak seasons. For example, industries with fluctuating natural gas demands due to weather conditions or irregular operational patterns may choose this agreement. It provides flexibility by securing storage capacity only when needed. Keywords: New Jersey Precedent Agreement, Firm Natural Gas Storage Service, natural gas storage services, firm customer, terms and conditions, reservation rights, operational procedures, rates, payment terms, the New Jersey Board of Public Utilities, Base Firm Storage Service Agreement, Interruptible Firm Storage Service Agreement, Seasonal Firm Storage Service Agreement.

New Jersey Precedent Agreements for Firm Natural Gas Storage Service are legally binding contracts established between a natural gas storage service provider and a firm customer in the state of New Jersey. These agreements specify the terms and conditions under which the natural gas storage services will be provided. A typical New Jersey Precedent Agreement for Firm Natural Gas Storage Service includes a detailed description of the services to be rendered, the duration of the agreement, reservation rights, operational procedures, rates, and payment terms. The agreements are regulated by the New Jersey Board of Public Utilities (NJ BPU) to ensure fair practices and smooth operations. There are three primary types of New Jersey Precedent Agreements for Firm Natural Gas Storage Service: 1. Base Firm Storage Service Agreement: This agreement sets out the standard terms and conditions for natural gas storage services. It includes the reserved amount of storage capacity for a specific period, access rights, and injection and withdrawal schedules. Customers enter into this agreement when they require a consistent and reliable storage solution. 2. Interruptible Firm Storage Service Agreement: This agreement provides customers with natural gas storage services at lower rates, but with the understanding that their service could be interrupted during periods of high demand or system constraints. Customers who have alternative supply arrangements or can temporarily manage without gas supply during interruptions may opt for this agreement to reduce costs. 3. Seasonal Firm Storage Service Agreement: Specifically designed for customers with seasonal storage needs, this agreement allows customers to reserve storage capacity for a limited period during peak seasons. For example, industries with fluctuating natural gas demands due to weather conditions or irregular operational patterns may choose this agreement. It provides flexibility by securing storage capacity only when needed. Keywords: New Jersey Precedent Agreement, Firm Natural Gas Storage Service, natural gas storage services, firm customer, terms and conditions, reservation rights, operational procedures, rates, payment terms, the New Jersey Board of Public Utilities, Base Firm Storage Service Agreement, Interruptible Firm Storage Service Agreement, Seasonal Firm Storage Service Agreement.