Wyoming 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. A Wyoming Gas Storage Agreement is a legally binding document that governs the terms and conditions of storing natural gas in storage facilities located in the state of Wyoming, USA. It outlines the rights, responsibilities, and obligations of both the gas storage provider and the gas storage customer. The Wyoming Gas Storage Agreement is specifically designed for gas storage arrangements within the state of Wyoming, which is known for its significant gas storage capacities and strategic location. This agreement plays a critical role in facilitating the smooth functioning of the gas storage market and ensuring the efficient and secure storage of natural gas. This comprehensive agreement covers various important aspects such as storage capacity reservations, injection and withdrawal procedures, usage rights, pricing mechanisms, terms of operational control, and conditions for access to the storage facility. It provides clarity on the rights and limitations of each party involved, ensuring fair and transparent dealings. In addition to the standard Wyoming Gas Storage Agreement, there might be different types or variations based on the specific needs and requirements of the parties involved. Some potential types of Wyoming Gas Storage Agreements include: 1. Firm Storage Agreement: This type of agreement offers storage customers a guaranteed capacity for storing natural gas, ensuring access to a fixed amount of storage space at all times. The gas storage provider commits to delivering the reserved storage capacity to the customer whenever required, as stated in the agreement. 2. Interruptible Storage Agreement: Unlike the firm storage agreement, this type of agreement provides customers with non-guaranteed storage capacity. The gas storage provider can interrupt or curtail the customer's access to the storage facility during periods of high demand or emergencies. 3. Seasonal Storage Agreement: This agreement allows customers to store natural gas for a specific season or period, primarily to meet seasonal demand fluctuations. It typically grants access to storage facilities during specific months or predefined periods. 4. Multi-Year Storage Agreement: This type of agreement extends the tenure of gas storage beyond a single year. It provides customers with extended storage capacity reservations for two or more years, thus ensuring long-term storage solutions. Each of these Wyoming Gas Storage Agreement types caters to different requirements and goals of gas storage customers, providing them with flexibility, predictability, and optimal utilization of storage facilities.

A Wyoming Gas Storage Agreement is a legally binding document that governs the terms and conditions of storing natural gas in storage facilities located in the state of Wyoming, USA. It outlines the rights, responsibilities, and obligations of both the gas storage provider and the gas storage customer. The Wyoming Gas Storage Agreement is specifically designed for gas storage arrangements within the state of Wyoming, which is known for its significant gas storage capacities and strategic location. This agreement plays a critical role in facilitating the smooth functioning of the gas storage market and ensuring the efficient and secure storage of natural gas. This comprehensive agreement covers various important aspects such as storage capacity reservations, injection and withdrawal procedures, usage rights, pricing mechanisms, terms of operational control, and conditions for access to the storage facility. It provides clarity on the rights and limitations of each party involved, ensuring fair and transparent dealings. In addition to the standard Wyoming Gas Storage Agreement, there might be different types or variations based on the specific needs and requirements of the parties involved. Some potential types of Wyoming Gas Storage Agreements include: 1. Firm Storage Agreement: This type of agreement offers storage customers a guaranteed capacity for storing natural gas, ensuring access to a fixed amount of storage space at all times. The gas storage provider commits to delivering the reserved storage capacity to the customer whenever required, as stated in the agreement. 2. Interruptible Storage Agreement: Unlike the firm storage agreement, this type of agreement provides customers with non-guaranteed storage capacity. The gas storage provider can interrupt or curtail the customer's access to the storage facility during periods of high demand or emergencies. 3. Seasonal Storage Agreement: This agreement allows customers to store natural gas for a specific season or period, primarily to meet seasonal demand fluctuations. It typically grants access to storage facilities during specific months or predefined periods. 4. Multi-Year Storage Agreement: This type of agreement extends the tenure of gas storage beyond a single year. It provides customers with extended storage capacity reservations for two or more years, thus ensuring long-term storage solutions. Each of these Wyoming Gas Storage Agreement types caters to different requirements and goals of gas storage customers, providing them with flexibility, predictability, and optimal utilization of storage facilities.