The Bexar Texas Precedent Agreement for Firm Natural Gas Storage Service is a crucial legal document that outlines the terms and conditions for natural gas storage services provided by firms within Bexar County, Texas. This agreement serves as a binding contract between the firm offering the storage service and the customer utilizing the storage facility. The purpose of the Bexar Texas Precedent Agreement is to establish a clear understanding of the responsibilities, rights, and obligations of both parties involved in the storage service. It sets forth the terms of storage capacity, injection and withdrawal rates, operational procedures, scheduling requirements, and pricing mechanisms. This agreement ensures that all parties involved adhere to a consistent and transparent framework, promoting a smooth and efficient natural gas storage process. There may be different types of Bexar Texas Precedent Agreements for Firm Natural Gas Storage Service, depending on specific requirements and preferences. Here are a few possible variations: 1. Short-Term Agreement: A short-term precedent agreement caters to customers who require storage services for a limited duration, usually a few months or a single storage season. This type of agreement offers flexibility and is ideal for businesses that have variable natural gas storage needs, such as seasonal industries. 2. Long-Term Agreement: On the other hand, a long-term precedent agreement is designed for customers with more consistent and prolonged natural gas storage requirements. These agreements typically span several years, providing stability and locking in storage capacity for an extended period. This type of agreement suits businesses that rely heavily on natural gas storage for their day-to-day operations. 3. Interruptible Agreement: An interruptible precedent agreement allows for the interruption or curtailment of storage services during periods of high demand or system constraints. It grants the firm the right to suspend storage services temporarily, typically in exchange for lower rates. This type of agreement is suitable for customers who can tolerate occasional disruptions in their natural gas supply and seek cost-saving opportunities. 4. Firm Agreement: A firm precedent agreement guarantees uninterrupted storage services for the customer throughout the agreed-upon term. This type of agreement provides a higher level of reliability and assures the customer that their storage needs will be met without any interruptions, regardless of external factors. It may involve higher rates compared to interruptible agreements. In summary, the Bexar Texas Precedent Agreements for Firm Natural Gas Storage Service outlines the details and terms of the storage service provided by firms within Bexar County, Texas. These agreements can be categorized into short-term, long-term, interruptible, or firm, based on the specific storage requirements of the customer. They ensure a mutually beneficial relationship between the customer and the storage service provider, fostering efficiency and transparency in the natural gas storage process.
Bexar Texas Precedent Agreement for Firm Natural Gas Storage Service
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Natural gas is not stored in household tanks because the symmetry of its molecule makes it hard to liquify. You could store methane in a tank in the gas state but it has such low density in the gas state that you could not store a usable amount.
Figure 2 shows the U.S. natural gas storage regions. The principal owners/operators of underground storage facilities are interstate pipeline companies, intrastate pipeline companies, local distribution companies (LDCs), and independent storage service providers.
Firm Transportation Agreement means a Transportation Agreement (including this Agreement) which provides for transportation services on a firm basis, including the parts of this Agreement relating to the Firm Service and, if the Details state that the Parking Service is a firm service, the Parking Service.
Precedent Agreement means a binding agreement between Company and a Prospective Shipper for the provision of the transportation service requested, subject to fulfillment of conditions precedent as agreed to between Prospective Shipper and Company.
An asset management agreement is a real estate agreement that determines the rights and obligations of both parties, typically a property owner and a property management company. The property owner is entering into a deal with a property management company to manage the property on its behalf.
These operators include the Columbia Gas Transmission Company, Dominion Gas Transmission Company, The National Fuel Gas Supply Company, Natural Gas Pipeline of America, Texas Gas Transmission Company, Southern Star Central Pipeline Company, TransCanada Corporation.
Announced its purchase of Spectra Energy Corp. Enbridge currently operates 1,800 miles of large-diameter (24 inches or greater) natural gas pipelines in the US....EIA: Recent mergers change the landscape of natural gas pipeline ownership. CommodityLastChangeNatural Gas (Henry Hub)8.083s-0.2251 more row
A condition precedent is an explicit or implicit clause within a contract that says the other party must accomplish its duty before the contract can move forward.
In a contract, a condition precedent is an event that must occur before the parties are obligated to perform. For example, an insurance contract may require the insurer to pay to rebuild the customer's home if it is destroyed by fire during the policy period. The fire is a condition precedent.
Second, increasingly, precedent agreements are between entities under the same corporate umbrella and where one subsidiary company (e.g., the shipper that may own a power plant or provide local gas distribution service) agrees to buy capacity on a pipeline proposed by its sister company.