Oregon 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. The Oregon Precedent Agreement for Firm Natural Gas Storage Service is a contract between a natural gas storage service provider and its customers in the state of Oregon. This agreement is designed to establish the terms and conditions for the firm storage of natural gas, ensuring a reliable and secure supply for customers' energy needs. The main purpose of this agreement is to provide customers with a dedicated capacity for storing natural gas in underground storage facilities. By entering into this agreement, customers are guaranteeing a fixed amount of storage space for a specified term, ensuring availability of natural gas when needed most, such as during peak demand periods or unforeseen disruptions in supply. The Oregon Precedent Agreement for Firm Natural Gas Storage Service outlines the rights and obligations of both the storage service provider and the customers. It covers essential aspects such as the quantities of natural gas to be stored, injection and withdrawal rates, scheduling procedures, and financial terms. Key Points Covered in the Oregon Precedent Agreement for Firm Natural Gas Storage Service: 1. Storage Capacity: This agreement establishes the maximum volume of natural gas that the customer can store within the storage facility. The storage provider commits to maintain this capacity exclusively for the customer's use during the contract term. 2. Injection and Withdrawal Rates: The agreement defines the rates at which the customer can inject or withdraw natural gas from the storage facility. These rates are typically specified in volume per day or per month, ensuring an efficient and controlled process. 3. Term and Renewal: The agreement sets a specific term, during which the customer is entitled to the firm storage service. It may also detail the conditions and procedures for the renewal or extension of the agreement beyond the initial term. 4. Scheduling and Nomination: The agreement includes provisions for scheduling the injection and withdrawal of natural gas, as well as the nomination process, which helps in coordinating the flow of gas and maintaining operational integrity. 5. Payment and Billing: Financial terms, including rates, fees, and billing procedures, are outlined in the agreement. This ensures transparency and facilitates accurate invoicing for the storage service provided. Types of Oregon Precedent Agreement for Firm Natural Gas Storage Service: 1. Short-Term Agreement: This type of agreement is designed for customers with temporary or seasonal storage needs. It offers a flexible term duration, usually spanning a few months up to a year. 2. Long-Term Agreement: Long-term agreements are suitable for customers with consistent and predictable storage requirements. These agreements usually have a fixed term of several years, providing stability and reliability in natural gas storage. 3. Interruptible Agreement: An interruptible agreement allows customers to access storage service on a non-firm basis, meaning their service can be interrupted during periods of high demand or emergencies. This type of agreement often offers lower rates but may have limitations on availability. In summary, the Oregon Precedent Agreement for Firm Natural Gas Storage Service is a comprehensive contract that establishes the terms, rights, and obligations between a natural gas storage service provider and its customers. It ensures a dedicated and reliable storage capacity for customers' natural gas needs, contributing to the stability and security of energy supply in the state of Oregon.

The Oregon Precedent Agreement for Firm Natural Gas Storage Service is a contract between a natural gas storage service provider and its customers in the state of Oregon. This agreement is designed to establish the terms and conditions for the firm storage of natural gas, ensuring a reliable and secure supply for customers' energy needs. The main purpose of this agreement is to provide customers with a dedicated capacity for storing natural gas in underground storage facilities. By entering into this agreement, customers are guaranteeing a fixed amount of storage space for a specified term, ensuring availability of natural gas when needed most, such as during peak demand periods or unforeseen disruptions in supply. The Oregon Precedent Agreement for Firm Natural Gas Storage Service outlines the rights and obligations of both the storage service provider and the customers. It covers essential aspects such as the quantities of natural gas to be stored, injection and withdrawal rates, scheduling procedures, and financial terms. Key Points Covered in the Oregon Precedent Agreement for Firm Natural Gas Storage Service: 1. Storage Capacity: This agreement establishes the maximum volume of natural gas that the customer can store within the storage facility. The storage provider commits to maintain this capacity exclusively for the customer's use during the contract term. 2. Injection and Withdrawal Rates: The agreement defines the rates at which the customer can inject or withdraw natural gas from the storage facility. These rates are typically specified in volume per day or per month, ensuring an efficient and controlled process. 3. Term and Renewal: The agreement sets a specific term, during which the customer is entitled to the firm storage service. It may also detail the conditions and procedures for the renewal or extension of the agreement beyond the initial term. 4. Scheduling and Nomination: The agreement includes provisions for scheduling the injection and withdrawal of natural gas, as well as the nomination process, which helps in coordinating the flow of gas and maintaining operational integrity. 5. Payment and Billing: Financial terms, including rates, fees, and billing procedures, are outlined in the agreement. This ensures transparency and facilitates accurate invoicing for the storage service provided. Types of Oregon Precedent Agreement for Firm Natural Gas Storage Service: 1. Short-Term Agreement: This type of agreement is designed for customers with temporary or seasonal storage needs. It offers a flexible term duration, usually spanning a few months up to a year. 2. Long-Term Agreement: Long-term agreements are suitable for customers with consistent and predictable storage requirements. These agreements usually have a fixed term of several years, providing stability and reliability in natural gas storage. 3. Interruptible Agreement: An interruptible agreement allows customers to access storage service on a non-firm basis, meaning their service can be interrupted during periods of high demand or emergencies. This type of agreement often offers lower rates but may have limitations on availability. In summary, the Oregon Precedent Agreement for Firm Natural Gas Storage Service is a comprehensive contract that establishes the terms, rights, and obligations between a natural gas storage service provider and its customers. It ensures a dedicated and reliable storage capacity for customers' natural gas needs, contributing to the stability and security of energy supply in the state of Oregon.