Wisconsin Gas Storage Unit Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-1015
• Format: Word; Rich Text

Description

This is an agreement for a gas storage unit. A Wisconsin Gas Storage Unit Agreement is a legally binding contract entered into by a gas storage facility operator and a customer for the storage of natural gas in Wisconsin. This agreement outlines the terms and conditions of the gas storage arrangement, including the rights, responsibilities, and obligations of both parties. The primary purpose of a Wisconsin Gas Storage Unit Agreement is to ensure the efficient and reliable storage of natural gas for the customer. It provides a mechanism for gas storage facility operators to lease out storage space to customers who need to replenish or withdraw natural gas for various purposes, such as ensuring a stable gas supply during peak demand periods or hedge against price volatility. There are different types of Wisconsin Gas Storage Unit Agreements, each tailored to meet the varying needs of different customers. Some common types include: 1. Firm Service Agreement: This type of agreement offers the customer a guaranteed storage capacity for a specified period, typically on an annual basis. The customer has the right to store and withdraw a predetermined quantity of natural gas throughout the term of the agreement. 2. Interruptible Service Agreement: An interruptible service agreement provides the customer with storage capacity that can be interrupted or curtailed by the gas storage facility operator during high-demand periods. This type of agreement typically offers a reduced rate compared to firm service agreements but may come with certain limitations on access and withdrawal rights. 3. Park and Loan Agreement: This agreement allows customers to park excess natural gas during periods of low demand and loan it back during high-demand periods. This type of agreement offers flexibility in managing natural gas inventories and can be beneficial for customers with fluctuating gas consumption patterns. 4. Wheeling Agreement: A wheeling agreement enables customers to transfer stored natural gas directly to another designated party, often through the natural gas pipeline system. This type of agreement is useful for customers who want to move gas from one location to another, such as from a production site to a consuming area. When entering into a Wisconsin Gas Storage Unit Agreement, both the gas storage facility operator and the customer must carefully consider the terms and conditions, including storage capacity, rates, injection and withdrawal rights, operational restrictions, and force majeure provisions. It is crucial to ensure that all relevant legal and regulatory requirements are met to ensure a smooth and efficient gas storage operation.

A Wisconsin Gas Storage Unit Agreement is a legally binding contract entered into by a gas storage facility operator and a customer for the storage of natural gas in Wisconsin. This agreement outlines the terms and conditions of the gas storage arrangement, including the rights, responsibilities, and obligations of both parties. The primary purpose of a Wisconsin Gas Storage Unit Agreement is to ensure the efficient and reliable storage of natural gas for the customer. It provides a mechanism for gas storage facility operators to lease out storage space to customers who need to replenish or withdraw natural gas for various purposes, such as ensuring a stable gas supply during peak demand periods or hedge against price volatility. There are different types of Wisconsin Gas Storage Unit Agreements, each tailored to meet the varying needs of different customers. Some common types include: 1. Firm Service Agreement: This type of agreement offers the customer a guaranteed storage capacity for a specified period, typically on an annual basis. The customer has the right to store and withdraw a predetermined quantity of natural gas throughout the term of the agreement. 2. Interruptible Service Agreement: An interruptible service agreement provides the customer with storage capacity that can be interrupted or curtailed by the gas storage facility operator during high-demand periods. This type of agreement typically offers a reduced rate compared to firm service agreements but may come with certain limitations on access and withdrawal rights. 3. Park and Loan Agreement: This agreement allows customers to park excess natural gas during periods of low demand and loan it back during high-demand periods. This type of agreement offers flexibility in managing natural gas inventories and can be beneficial for customers with fluctuating gas consumption patterns. 4. Wheeling Agreement: A wheeling agreement enables customers to transfer stored natural gas directly to another designated party, often through the natural gas pipeline system. This type of agreement is useful for customers who want to move gas from one location to another, such as from a production site to a consuming area. When entering into a Wisconsin Gas Storage Unit Agreement, both the gas storage facility operator and the customer must carefully consider the terms and conditions, including storage capacity, rates, injection and withdrawal rights, operational restrictions, and force majeure provisions. It is crucial to ensure that all relevant legal and regulatory requirements are met to ensure a smooth and efficient gas storage operation.