Washington Gas Storage Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-723
• Format: Word; Rich Text

Description

This form is used when Owner owns and operates underground gas storage facilities and Customer desires storage service for natural gas to serve its Plant, and Owner is willing to render such storage services. Washington Gas Storage Agreement refers to a contract or agreement entered into between Washington Gas, a prominent gas utility company, and its customers for the purposes of storing natural gas. This agreement outlines the terms and conditions under which the gas storage service is provided, ensuring a systematic and transparent process for gas storage. The Washington Gas Storage Agreement is designed to establish a legal framework that governs the relationship between Washington Gas and its customers, ensuring the availability and security of natural gas supplies. It encompasses various important aspects related to gas storage, including capacity requirements, delivery and withdrawal procedures, pricing mechanisms, payment terms, and customer obligations. One of the key elements covered by the Washington Gas Storage Agreement is the determination of storage capacity. This includes establishing the maximum volume of natural gas that can be stored by the customer, typically measured in cubic feet or therms. This capacity requirement may vary based on the specific needs and preferences of individual customers. Furthermore, the agreement specifies the procedures for gas delivery and withdrawal. It ensures that the gas storage service is provided in a reliable and efficient manner, guaranteeing that customers can access their stored natural gas as and when required. Additionally, it outlines the conditions under which Washington Gas can make use of the stored gas for system balancing purposes or unexpected demand fluctuations. Pricing mechanisms play a vital role in the Washington Gas Storage Agreement. The cost associated with the gas storage service is determined based on factors such as the agreed-upon storage capacity, the duration of the agreement, and any additional services or options selected by the customer. It is important for customers to assess their gas storage needs and negotiate favorable pricing terms within the agreement. Payment terms are also clearly defined within the agreement. Customers are obligated to pay for the gas storage service as outlined in the agreement, typically through regular invoices or billing cycles. Failure to adhere to the payment terms may result in penalties or termination of the agreement. While there may not be different types of Washington Gas Storage Agreements in terms of fundamental structure and purpose, the specific details and provisions within the agreement can vary based on the individual requirements of customers. For instance, a residential customer's gas storage needs and corresponding agreement will differ from that of a commercial entity or an industrial facility. In conclusion, the Washington Gas Storage Agreement serves as a comprehensive document that establishes the terms and conditions for the safe and reliable storage of natural gas. It ensures a systematic and transparent process between Washington Gas and its customers, covering important aspects such as capacity requirements, delivery procedures, pricing mechanisms, payment terms, and customer obligations.

Washington Gas Storage Agreement refers to a contract or agreement entered into between Washington Gas, a prominent gas utility company, and its customers for the purposes of storing natural gas. This agreement outlines the terms and conditions under which the gas storage service is provided, ensuring a systematic and transparent process for gas storage. The Washington Gas Storage Agreement is designed to establish a legal framework that governs the relationship between Washington Gas and its customers, ensuring the availability and security of natural gas supplies. It encompasses various important aspects related to gas storage, including capacity requirements, delivery and withdrawal procedures, pricing mechanisms, payment terms, and customer obligations. One of the key elements covered by the Washington Gas Storage Agreement is the determination of storage capacity. This includes establishing the maximum volume of natural gas that can be stored by the customer, typically measured in cubic feet or therms. This capacity requirement may vary based on the specific needs and preferences of individual customers. Furthermore, the agreement specifies the procedures for gas delivery and withdrawal. It ensures that the gas storage service is provided in a reliable and efficient manner, guaranteeing that customers can access their stored natural gas as and when required. Additionally, it outlines the conditions under which Washington Gas can make use of the stored gas for system balancing purposes or unexpected demand fluctuations. Pricing mechanisms play a vital role in the Washington Gas Storage Agreement. The cost associated with the gas storage service is determined based on factors such as the agreed-upon storage capacity, the duration of the agreement, and any additional services or options selected by the customer. It is important for customers to assess their gas storage needs and negotiate favorable pricing terms within the agreement. Payment terms are also clearly defined within the agreement. Customers are obligated to pay for the gas storage service as outlined in the agreement, typically through regular invoices or billing cycles. Failure to adhere to the payment terms may result in penalties or termination of the agreement. While there may not be different types of Washington Gas Storage Agreements in terms of fundamental structure and purpose, the specific details and provisions within the agreement can vary based on the individual requirements of customers. For instance, a residential customer's gas storage needs and corresponding agreement will differ from that of a commercial entity or an industrial facility. In conclusion, the Washington Gas Storage Agreement serves as a comprehensive document that establishes the terms and conditions for the safe and reliable storage of natural gas. It ensures a systematic and transparent process between Washington Gas and its customers, covering important aspects such as capacity requirements, delivery procedures, pricing mechanisms, payment terms, and customer obligations.