Nassau New York Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property)

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Nassau
• Control #: US-OG-1016
• Format: Word; Rich Text

Description

This is an agreement to establish a gas storage unit on depleted producing property. Nassau New York Gas Storage Unit Agreement is a legal contract that allows for the establishment of a gas storage unit on a depleted producing property in Nassau County, New York. This agreement is designed to regulate the storage and operation of natural gas within the designated unit. The gas storage unit agreement outlines the terms and conditions under which the storage unit will be established and operated. It typically includes key provisions related to the storage capacity, withdrawal rates, injection rates, and other operational parameters that must be adhered to by the parties involved. There are different types of gas storage unit agreements that can be established on depleted producing properties in Nassau, New York. These may include: 1. Seasonal Storage Agreement: This type of agreement allows for the storage of natural gas during periods of low demand, typically in preparation for winter or other peak demand periods. It outlines specific terms for injection and withdrawal rates during the designated storage season. 2. Firm Storage Agreement: In this type of agreement, the gas storage unit is reserved exclusively for a particular customer or group of customers. It guarantees a fixed amount of storage capacity, ensuring the availability of gas for the customer(s) year-round. 3. Interruptible Storage Agreement: This agreement provides storage capacity on a non-guaranteed basis, allowing for the interruption of storage services during periods of high demand. Customers opting for this agreement typically benefit from lower rates but may face limitations during peak demand seasons. 4. Lease Agreement: This refers to an agreement between the property owner (lessor) and the gas storage company (lessee) for the use of the property for gas storage purposes. The lease agreement specifies the lease duration, rental payments, and any other terms related to the use of the property for gas storage. In summary, the Nassau New York Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a comprehensive legal contract that regulates the establishment, operation, and use of a gas storage unit on a depleted producing property. Whether it is a seasonal, firm, interruptible, or lease agreement, these documents ensure the smooth functioning of gas storage operations while protecting the rights and interests of all parties involved.

Nassau New York Gas Storage Unit Agreement is a legal contract that allows for the establishment of a gas storage unit on a depleted producing property in Nassau County, New York. This agreement is designed to regulate the storage and operation of natural gas within the designated unit. The gas storage unit agreement outlines the terms and conditions under which the storage unit will be established and operated. It typically includes key provisions related to the storage capacity, withdrawal rates, injection rates, and other operational parameters that must be adhered to by the parties involved. There are different types of gas storage unit agreements that can be established on depleted producing properties in Nassau, New York. These may include: 1. Seasonal Storage Agreement: This type of agreement allows for the storage of natural gas during periods of low demand, typically in preparation for winter or other peak demand periods. It outlines specific terms for injection and withdrawal rates during the designated storage season. 2. Firm Storage Agreement: In this type of agreement, the gas storage unit is reserved exclusively for a particular customer or group of customers. It guarantees a fixed amount of storage capacity, ensuring the availability of gas for the customer(s) year-round. 3. Interruptible Storage Agreement: This agreement provides storage capacity on a non-guaranteed basis, allowing for the interruption of storage services during periods of high demand. Customers opting for this agreement typically benefit from lower rates but may face limitations during peak demand seasons. 4. Lease Agreement: This refers to an agreement between the property owner (lessor) and the gas storage company (lessee) for the use of the property for gas storage purposes. The lease agreement specifies the lease duration, rental payments, and any other terms related to the use of the property for gas storage. In summary, the Nassau New York Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a comprehensive legal contract that regulates the establishment, operation, and use of a gas storage unit on a depleted producing property. Whether it is a seasonal, firm, interruptible, or lease agreement, these documents ensure the smooth functioning of gas storage operations while protecting the rights and interests of all parties involved.