Ohio Gas Storage Agreement and Lease (Surface and Underground)

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-1012
• Format: Word; Rich Text

Description

This is an agreement and lease for surface and underground gas storage. The Ohio Gas Storage Agreement and Lease (Surface and Underground) is a legally binding document that governs the terms and conditions of gas storage operations in the state of Ohio. It encompasses both surface and underground gas storage activities, ensuring the rights and responsibilities of all parties involved are clearly defined. In Ohio, there are several types of gas storage agreements and leases, each with its specific focus and purpose. These agreements include: 1. Surface Gas Storage Agreement: This type of agreement pertains to gas storage operations conducted on the surface, such as in storage tanks or above-ground facilities. It outlines the rights and obligations of the respective parties regarding facility usage, maintenance, fees, and access rights. 2. Underground Gas Storage Agreement: Underground storage is a widely-used method for storing natural gas. This agreement regulates the underground storage of gas in designated areas, such as depleted reservoirs, salt caverns, or aquifers. It addresses important aspects like subsurface rights, reservoir management, withdrawal rights, and injection capabilities. 3. Lease Agreement: A lease agreement allows a gas storage operator to possess and utilize a specific area for storage purposes. It grants exclusive rights to leaseholder over the designated land or underground storage reservoir while specifying aspects such as lease duration, rental fees, and operational limitations. 4. Gas Storage Capacity Agreement: This type of contract focuses specifically on the allocation and availability of gas storage capacity. It stipulates the conditions, such as reservation fees, storage rates, and notification procedures, for acquiring or utilizing storage capacity within a designated facility or reservoir. The Ohio Gas Storage Agreement and Lease (Surface and Underground) serve as crucial frameworks for facilitating gas storage activities. These agreements define the legal rights and obligations of the parties involved, ensuring a fair and regulated environment for gas storage operations in Ohio.

The Ohio Gas Storage Agreement and Lease (Surface and Underground) is a legally binding document that governs the terms and conditions of gas storage operations in the state of Ohio. It encompasses both surface and underground gas storage activities, ensuring the rights and responsibilities of all parties involved are clearly defined. In Ohio, there are several types of gas storage agreements and leases, each with its specific focus and purpose. These agreements include: 1. Surface Gas Storage Agreement: This type of agreement pertains to gas storage operations conducted on the surface, such as in storage tanks or above-ground facilities. It outlines the rights and obligations of the respective parties regarding facility usage, maintenance, fees, and access rights. 2. Underground Gas Storage Agreement: Underground storage is a widely-used method for storing natural gas. This agreement regulates the underground storage of gas in designated areas, such as depleted reservoirs, salt caverns, or aquifers. It addresses important aspects like subsurface rights, reservoir management, withdrawal rights, and injection capabilities. 3. Lease Agreement: A lease agreement allows a gas storage operator to possess and utilize a specific area for storage purposes. It grants exclusive rights to leaseholder over the designated land or underground storage reservoir while specifying aspects such as lease duration, rental fees, and operational limitations. 4. Gas Storage Capacity Agreement: This type of contract focuses specifically on the allocation and availability of gas storage capacity. It stipulates the conditions, such as reservation fees, storage rates, and notification procedures, for acquiring or utilizing storage capacity within a designated facility or reservoir. The Ohio Gas Storage Agreement and Lease (Surface and Underground) serve as crucial frameworks for facilitating gas storage activities. These agreements define the legal rights and obligations of the parties involved, ensuring a fair and regulated environment for gas storage operations in Ohio.