Texas 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. Texas Precedent Agreement for Firm Natural Gas Storage Service is a legally binding contract that outlines the terms and conditions between a firm and a natural gas storage service provider in the state of Texas. This agreement sets forth the rights, responsibilities, and obligations of both parties involved in the storage of natural gas. Keywords: Texas, Precedent Agreement, firm, natural gas storage service There are several types of Texas Precedent Agreements for Firm Natural Gas Storage Service, including: 1. Base Firm Precedent Agreement: This type of agreement establishes the foundation for the firm's natural gas storage services. It outlines the general terms, pricing, and volumes of natural gas storage that the firm requires. 2. Interruptible Precedent Agreement: An interruptible precedent agreement allows the firm to store natural gas on a non-firm basis, providing flexibility in storage capacity utilization. The service provider can interrupt the service when necessary, typically during high-demand periods. 3. Seasonal Precedent Agreement: A seasonal precedent agreement defines the terms and conditions for natural gas storage with specific start and end dates. It is commonly used by firms that require additional storage capacity during peak seasons, such as winter. 4. Swing Precedent Agreement: A swing precedent agreement offers the flexibility to adjust the stored natural gas volume within a predetermined range. This allows the firm to respond to fluctuations in demand and optimize its gas storage utilization. 5. Hub Services Precedent Agreement: This type of agreement involves the storage of natural gas at a hub location, which serves as a central point for gas exchange and trading. Hub services precedent agreements are commonly used by firms engaged in gas trading activities. In summary, a Texas Precedent Agreement for Firm Natural Gas Storage Service is a comprehensive contract that governs the terms, pricing, and conditions for natural gas storage services between a firm and a service provider. By choosing the appropriate type of precedent agreement, firms can tailor their natural gas storage arrangements to meet their specific needs and optimize their operations.

Texas Precedent Agreement for Firm Natural Gas Storage Service is a legally binding contract that outlines the terms and conditions between a firm and a natural gas storage service provider in the state of Texas. This agreement sets forth the rights, responsibilities, and obligations of both parties involved in the storage of natural gas. Keywords: Texas, Precedent Agreement, firm, natural gas storage service There are several types of Texas Precedent Agreements for Firm Natural Gas Storage Service, including: 1. Base Firm Precedent Agreement: This type of agreement establishes the foundation for the firm's natural gas storage services. It outlines the general terms, pricing, and volumes of natural gas storage that the firm requires. 2. Interruptible Precedent Agreement: An interruptible precedent agreement allows the firm to store natural gas on a non-firm basis, providing flexibility in storage capacity utilization. The service provider can interrupt the service when necessary, typically during high-demand periods. 3. Seasonal Precedent Agreement: A seasonal precedent agreement defines the terms and conditions for natural gas storage with specific start and end dates. It is commonly used by firms that require additional storage capacity during peak seasons, such as winter. 4. Swing Precedent Agreement: A swing precedent agreement offers the flexibility to adjust the stored natural gas volume within a predetermined range. This allows the firm to respond to fluctuations in demand and optimize its gas storage utilization. 5. Hub Services Precedent Agreement: This type of agreement involves the storage of natural gas at a hub location, which serves as a central point for gas exchange and trading. Hub services precedent agreements are commonly used by firms engaged in gas trading activities. In summary, a Texas Precedent Agreement for Firm Natural Gas Storage Service is a comprehensive contract that governs the terms, pricing, and conditions for natural gas storage services between a firm and a service provider. By choosing the appropriate type of precedent agreement, firms can tailor their natural gas storage arrangements to meet their specific needs and optimize their operations.