The Oklahoma Precedent Agreement for Firm Natural Gas Storage Service is a legally binding contract designed to facilitate the storage of natural gas by companies operating within the state of Oklahoma. This agreement sets forth the terms and conditions under which natural gas storage service is provided, ensuring a reliable and efficient storage infrastructure for firms involved in the natural gas industry. Key components covered in the Oklahoma Precedent Agreement for Firm Natural Gas Storage Service include the duration of the agreement, the quantities of natural gas to be stored, the injection and withdrawal rates, and the applicable storage rates and fees. These contractual terms are vital for ensuring a fair and economically viable arrangement between the storage service provider and the companies utilizing the storage infrastructure. In Oklahoma, there are several types of Precedent Agreements for Firm Natural Gas Storage Service that can be negotiated depending on the specific needs of the parties involved. Some of these include: 1. Base Firm Precedent Agreement: This agreement establishes the basic terms and conditions for natural gas storage service, covering aspects such as injection and withdrawal rights, duration, and rates. It serves as the foundation for further customization and negotiation. 2. Enhanced Firm Precedent Agreement: This type of agreement includes additional services or features beyond the standard base terms. Enhanced firm agreements may provide priority access to storage capacity during peak demand periods, flexibility in injection and withdrawal scheduling, or tailored services to meet unique operational requirements. 3. Interruptible Precedent Agreement: This agreement is suitable for firms willing to accept occasional interruptions in their natural gas storage service in exchange for reduced rates. It offers a more cost-effective option, but with reduced reliability and availability compared to firm agreements. 4. Multi-Year Precedent Agreement: This agreement extends the duration beyond the typical annual or seasonal terms, allowing firms to secure storage capacity for multiple years. It provides long-term stability and guarantees for both the storage service provider and the companies utilizing the storage infrastructure. Whether a firm requires base firm, enhanced firm, interruptible, or multi-year storage service, the Oklahoma Precedent Agreement for Firm Natural Gas Storage Service provides a comprehensive framework that ensures a fair and organized operation of natural gas storage facilities. By entering into such agreements, firms can effectively manage their natural gas inventory, optimize their supply chains, and ultimately contribute to the stability and growth of the natural gas industry in Oklahoma.
Oklahoma Precedent Agreement for Firm Natural Gas Storage Service
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Gas Gathering means pipeline transportation, for oneself or other persons, of natural gas over any part or all of the distance between a well and a gas transmission pipeline or gas processing plant.
A gathering system usually consists of multiple pipelines laid in one area that are designed to ?gather? the product that is produced from multiple wells to a central point. This central point may be a compressor station, a storage facility, a processing plant, a larger transmission pipeline or a shipping point.
form agreement for gas gathering services between a midstream company as the gatherer, and an upstream exploration and production company as the shipper. This Standard Document assumes, among other things, an existing gathering system that does not require expansions.
The wholesale provider agrees to provide you with fuel at a specified volume and price. A typical fuel contract determines a set price per gallon for the amount of time agreed upon by both parties. Fuel prices may fluctuate during that time, but the price you pay stays the same due to the fuel contract in place.
Maximum Daily Quantity (MDQ): The maximum quantity of gas consumed by a customer in a 24-hour period. An LDC may set delivery obligations or delivery limits based on a customer's MDQ.
Gas gathering is collecting gas from the wellhead and moving it to a processing plant or to a major transmission line. From the well, the natural gas goes into gathering pipelines. The gathering lines become larger in diameter closer to the central collecting point.
Firm Transportation means that the receipt, delivery and transportation of Natural Gas shall not be subject to interruption or curtailment, other than by reason of express written consent of CES, Force Majeure, Applicable Law or an Excusable Event, or as otherwise provided in this Agreement.