Travis Texas Gas Storage Service Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Travis
• Control #: US-OG-1014
• Format: Word; Rich Text

Description

This is an agreement for gas storage service. Travis Texas Gas Storage Service Agreement is a legal contract between a gas storage service provider and a customer that establishes the terms and conditions for the storage and retrieval of natural gas. This agreement is specific to gas storage services provided in the Travis, Texas area. Key Terms and Definitions: 1. Gas Storage Service Provider: A company or organization that owns and operates gas storage facilities in Travis, Texas. 2. Customer: An entity or individual that requires gas storage services for their natural gas supply. 3. Storage Capacity: The maximum volume of natural gas that the gas storage facility is capable of holding. 4. Injection: The process of injecting or adding natural gas into the storage facility. 5. Withdrawal: The process of retrieving or removing natural gas from the storage facility. 6. Storage Fees: The charges imposed by the gas storage service provider for storing natural gas in the facility. 7. Reservation Fee: An upfront payment made by the customer to reserve a specific storage capacity. Types of Travis Texas Gas Storage Service Agreements: 1. Firm Storage Agreement: This type of agreement guarantees the customer a fixed and reserved storage capacity for a designated period. The customer has the right to inject and withdraw natural gas as per their requirements within the agreed terms. 2. Interruptible Storage Agreement: An interruptible storage agreement grants the gas storage service provider the right to interrupt or discontinue services to the customer during peak demand periods or under certain predetermined conditions. In return, customers often receive reduced storage fees. 3. Swing Storage Agreement: A swing storage agreement offers customers the flexibility to swing or shift their gas injections and withdrawals within predefined ranges to accommodate fluctuations in demand or supply. This type of agreement is suitable for customers with varying gas storage requirements. Components of Travis Texas Gas Storage Service Agreement: 1. Term: The duration of the agreement, specifying the start and end dates. 2. Storage Capacity: The agreed-upon volume of natural gas that the storage facility will hold for the customer. 3. Injection and Withdrawal Rates: The maximum rates at which the customer can inject or withdraw gas from the facility. 4. Storage Fees: The pricing structure for storing gas, including any applicable reservation fees, usage fees, and penalties for exceeding storage limits. 5. Force Mature: A clause outlining how unexpected events such as natural disasters or emergencies can release either party from their obligations temporarily. 6. Confidentiality: The agreement typically includes a provision on maintaining the confidentiality of the terms discussed. 7. Default and Termination: The conditions under which either party can terminate the agreement due to non-compliance or breach of terms. In conclusion, Travis Texas Gas Storage Service Agreement is a customized contract that governs the storage and retrieval of natural gas in the Travis, Texas area. It outlines the rights, obligations, pricing, and other terms agreed upon by the gas storage service provider and the customer. Different types of agreements, such as firm, interruptible, and swing, cater to varying customer needs and priorities.

Travis Texas Gas Storage Service Agreement is a legal contract between a gas storage service provider and a customer that establishes the terms and conditions for the storage and retrieval of natural gas. This agreement is specific to gas storage services provided in the Travis, Texas area. Key Terms and Definitions: 1. Gas Storage Service Provider: A company or organization that owns and operates gas storage facilities in Travis, Texas. 2. Customer: An entity or individual that requires gas storage services for their natural gas supply. 3. Storage Capacity: The maximum volume of natural gas that the gas storage facility is capable of holding. 4. Injection: The process of injecting or adding natural gas into the storage facility. 5. Withdrawal: The process of retrieving or removing natural gas from the storage facility. 6. Storage Fees: The charges imposed by the gas storage service provider for storing natural gas in the facility. 7. Reservation Fee: An upfront payment made by the customer to reserve a specific storage capacity. Types of Travis Texas Gas Storage Service Agreements: 1. Firm Storage Agreement: This type of agreement guarantees the customer a fixed and reserved storage capacity for a designated period. The customer has the right to inject and withdraw natural gas as per their requirements within the agreed terms. 2. Interruptible Storage Agreement: An interruptible storage agreement grants the gas storage service provider the right to interrupt or discontinue services to the customer during peak demand periods or under certain predetermined conditions. In return, customers often receive reduced storage fees. 3. Swing Storage Agreement: A swing storage agreement offers customers the flexibility to swing or shift their gas injections and withdrawals within predefined ranges to accommodate fluctuations in demand or supply. This type of agreement is suitable for customers with varying gas storage requirements. Components of Travis Texas Gas Storage Service Agreement: 1. Term: The duration of the agreement, specifying the start and end dates. 2. Storage Capacity: The agreed-upon volume of natural gas that the storage facility will hold for the customer. 3. Injection and Withdrawal Rates: The maximum rates at which the customer can inject or withdraw gas from the facility. 4. Storage Fees: The pricing structure for storing gas, including any applicable reservation fees, usage fees, and penalties for exceeding storage limits. 5. Force Mature: A clause outlining how unexpected events such as natural disasters or emergencies can release either party from their obligations temporarily. 6. Confidentiality: The agreement typically includes a provision on maintaining the confidentiality of the terms discussed. 7. Default and Termination: The conditions under which either party can terminate the agreement due to non-compliance or breach of terms. In conclusion, Travis Texas Gas Storage Service Agreement is a customized contract that governs the storage and retrieval of natural gas in the Travis, Texas area. It outlines the rights, obligations, pricing, and other terms agreed upon by the gas storage service provider and the customer. Different types of agreements, such as firm, interruptible, and swing, cater to varying customer needs and priorities.