Ohio Gas Storage Service Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-1014
• Format: Word; Rich Text

Description

This is an agreement for gas storage service. Ohio Gas Storage Service Agreement is a legally binding contract between a gas storage provider and a customer in the state of Ohio. This agreement outlines the terms and conditions for the storage of natural gas in underground storage facilities operated by the provider. One type of Ohio Gas Storage Service Agreement is the Firm Storage Service Agreement. This agreement guarantees the customer a specific amount of storage capacity for a specified time period. The customer pays a fixed fee for this dedicated storage capacity, ensuring that their stored gas is always available when needed, regardless of any interruptions in supply or market fluctuations. Another type is the Interruptible Storage Service Agreement. This agreement allows customers to store gas on a non-guaranteed basis, as the storage provider can interrupt or curtail the services during periods of high demand or system emergencies. Due to the flexibility offered by this agreement, it typically has a lower cost compared to the Firm Storage Service Agreement. Key elements of an Ohio Gas Storage Service Agreement include the duration of the agreement, defined in terms of start and end dates, the quantity of storage capacity allocated to the customer, and the fees associated with the storage service. The fees may include reservation charges, usage charges, injection and withdrawal charges, and any additional charges for ancillary services or penalties for non-compliance. The agreement also includes provisions for the operation and maintenance of the storage facilities, including safety and security measures, maintenance schedules, and any responsibilities or liabilities of both parties in case of accidents, damages, or force majeure events. It may also address billing and payment terms, dispute resolution mechanisms, and termination conditions. In conclusion, the Ohio Gas Storage Service Agreement is a contractual arrangement that allows customers to store natural gas in underground storage facilities in Ohio. The two main types of agreements are Firm Storage Service Agreement and Interruptible Storage Service Agreement, with each offering distinct features and costs. The agreement encompasses various essential elements, including duration, capacity allocation, fees, facility operation, and maintenance, as well as legal and financial obligations of both parties.

Ohio Gas Storage Service Agreement is a legally binding contract between a gas storage provider and a customer in the state of Ohio. This agreement outlines the terms and conditions for the storage of natural gas in underground storage facilities operated by the provider. One type of Ohio Gas Storage Service Agreement is the Firm Storage Service Agreement. This agreement guarantees the customer a specific amount of storage capacity for a specified time period. The customer pays a fixed fee for this dedicated storage capacity, ensuring that their stored gas is always available when needed, regardless of any interruptions in supply or market fluctuations. Another type is the Interruptible Storage Service Agreement. This agreement allows customers to store gas on a non-guaranteed basis, as the storage provider can interrupt or curtail the services during periods of high demand or system emergencies. Due to the flexibility offered by this agreement, it typically has a lower cost compared to the Firm Storage Service Agreement. Key elements of an Ohio Gas Storage Service Agreement include the duration of the agreement, defined in terms of start and end dates, the quantity of storage capacity allocated to the customer, and the fees associated with the storage service. The fees may include reservation charges, usage charges, injection and withdrawal charges, and any additional charges for ancillary services or penalties for non-compliance. The agreement also includes provisions for the operation and maintenance of the storage facilities, including safety and security measures, maintenance schedules, and any responsibilities or liabilities of both parties in case of accidents, damages, or force majeure events. It may also address billing and payment terms, dispute resolution mechanisms, and termination conditions. In conclusion, the Ohio Gas Storage Service Agreement is a contractual arrangement that allows customers to store natural gas in underground storage facilities in Ohio. The two main types of agreements are Firm Storage Service Agreement and Interruptible Storage Service Agreement, with each offering distinct features and costs. The agreement encompasses various essential elements, including duration, capacity allocation, fees, facility operation, and maintenance, as well as legal and financial obligations of both parties.