This is a form dealing with the Over-Production and Under-Production of Gas, the event Assignor's gas production, if any, from the Assigned Property is in excess of or less than Assignor's interest in the Property, then Assignee shall acquire Assignor's interest subject to that over-production or under-production.
Puerto Rico Over-Production and Under-Production of Gas
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Multi-State
Control #:
US-OG-502
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Word;
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FAQ
This means Puerto Rico must purchase its LNG from abroad. Last year LNG tankers arrived at the island from Trinidad and Tobago, Brazil, Nigeria, Oman, and Spain (while the Catalunya Spirit's gas originated in Russia, the LNG was loaded in Spain.
Forty-three percent of Puerto Rico's population is below the federal poverty guidelines. And the energy burden for your typical Puerto Rican family could be upwards of nine to 11%, which is much higher than the average for the United States continental, which is about 3%.
The imported LNG mostly comes from Trinidad and Tobago, with smaller shipments from Nigeria, Oman, and Spain. Minor amounts of LNG from the U.S. mainland are also shipped to Puerto Rico to supply fuel to industrial customers and container ships.
The reason gas is a little cheaper here is because the government buy crude oil instead of processed. We take the crude and convert it into gasoline in one of three processing plants here on the island. The processed as is then distributed all over at the lowest available price.
Fossil fuels provide about 97% of Puerto Rico's electricity. In fiscal year 2022 (July 2021 to June 2022), fossil fuel-fired power plants generated about 97% of Puerto Rico's electricity.
Fossil fuels provide about 97% of Puerto Rico's electricity. In fiscal year 2022 (July 2021 to June 2022), fossil fuel-fired power plants generated about 97% of Puerto Rico's electricity.
The reason gas is a little cheaper here is because the government buy crude oil instead of processed. We take the crude and convert it into gasoline in one of three processing plants here on the island. The processed as is then distributed all over at the lowest available price.
From July 2021 to June 2022, natural gas-fired power plants generated 43% of Puerto Rico's electricity, 97% of which is produced with fossil fuels.
