Tennessee Gas Storage Agreement and Lease (Surface and Underground) The Tennessee Gas Storage Agreement and Lease is a legal document that encompasses the terms and conditions for storage agreements and leases related to both surface and underground storage of natural gas within Tennessee. This agreement applies to various types of storage facilities and provides a framework for the rights and responsibilities of both the lessor (property owner) and the lessee (storage operator). Types of Tennessee Gas Storage Agreement and Lease: 1. Surface Gas Storage Agreement and Lease: This type of agreement pertains to the storage of natural gas on the surface of the leased property. It encompasses the terms for the establishment, operation, and maintenance of surface gas storage facilities, such as above-ground storage tanks or related equipment. The agreement may cover aspects like lease duration, rental fees, liability, and specific provisions for access, construction, and decommissioning of the surface storage facility. 2. Underground Gas Storage Agreement and Lease: This agreement deals with the storage of natural gas in underground reservoirs or formations on the leased property. It establishes the terms for the use of the subsurface area, including the drilling, operating, and maintaining of storage wells, injection and withdrawal procedures, and safety regulations. The agreement may also cover insurance requirements, environmental considerations, financial arrangements, and procedures for well abandonment or site restoration. The Tennessee Gas Storage Agreement and Lease serve as a legal protection and guide for both parties involved in the storage of natural gas. The agreements ensure compliance with state and federal regulations governing storage operations and define the rights and obligations of each party. Keywords: Tennessee Gas Storage Agreement, lease, surface, underground, natural gas, storage facilities, surface gas storage, storage tanks, equipment, underground gas storage, reservoirs, formations, subsurface area, wells, injection, withdrawal, safety regulations, insurance requirements, environmental considerations, financial arrangements, well abandonment, site restoration.
Tennessee Gas Storage Agreement and Lease (Surface and Underground)
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