Houston Texas Precedent Agreement for Firm Natural Gas Storage Service

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• City: Houston
• Control #: US-OG-1089
• Format: Word; Rich Text

Description

This form is a precedent agreement for a firm national gas storage service. Houston Texas Precedent Agreement for Firm Natural Gas Storage Service is a legal contract that defines the terms and conditions for natural gas storage services in the Houston, Texas region. The agreement establishes a binding relationship between a firm that provides natural gas storage services and a customer who requires such services. It outlines the specific obligations, rights, and responsibilities of both parties involved in the storage and withdrawal of natural gas. The Houston Texas Precedent Agreement for Firm Natural Gas Storage Service encompasses various key aspects such as storage capacity, injection, and withdrawal rights, pricing and fees, duration of the agreement, operational procedures, scheduling, force majeure events, and termination clauses. This agreement serves as a crucial document for facilitating smooth operations and ensuring a fair and transparent relationship between the service provider and the customer. There can be different types of Houston Texas Precedent Agreements for Firm Natural Gas Storage Service, each tailored to meet the specific requirements and preferences of the parties involved. These types may include: 1. Seasonal Firm Storage Agreement: This type of agreement allows customers to reserve storage capacity for a specific season, typically during periods of higher natural gas demand, such as winter. It ensures that the customer has guaranteed access to the storage facility for the duration of the agreed season. 2. Long-Term Firm Storage Agreement: This agreement involves a longer-term commitment, typically spanning several years. It provides customers with a fixed storage capacity and assures them of uninterrupted access to the storage service throughout the agreed term. 3. Interruptible Storage Agreement: Unlike the firm storage agreements, this type of agreement does not guarantee access to storage capacity. Instead, it offers a lower-priced option where customers can request storage services on a non-guaranteed basis, subject to availability. 4. Capacity Release Agreement: This agreement allows a customer who has entered into a firm storage agreement to release a portion of their reserved storage capacity to another entity. It provides flexibility for customers who may no longer require the full storage capacity initially contracted. In summary, the Houston Texas Precedent Agreement for Firm Natural Gas Storage Service is a legal contract that governs the storage, injection, and withdrawal of natural gas in the Houston, Texas area. It establishes the rights and obligations of both the service provider and the customer, ensuring a fair and transparent relationship. Different types of agreements exist to accommodate various customer needs, including seasonal firm storage agreements, long-term firm storage agreements, interruptible storage agreements, and capacity release agreements.

Houston Texas Precedent Agreement for Firm Natural Gas Storage Service is a legal contract that defines the terms and conditions for natural gas storage services in the Houston, Texas region. The agreement establishes a binding relationship between a firm that provides natural gas storage services and a customer who requires such services. It outlines the specific obligations, rights, and responsibilities of both parties involved in the storage and withdrawal of natural gas. The Houston Texas Precedent Agreement for Firm Natural Gas Storage Service encompasses various key aspects such as storage capacity, injection, and withdrawal rights, pricing and fees, duration of the agreement, operational procedures, scheduling, force majeure events, and termination clauses. This agreement serves as a crucial document for facilitating smooth operations and ensuring a fair and transparent relationship between the service provider and the customer. There can be different types of Houston Texas Precedent Agreements for Firm Natural Gas Storage Service, each tailored to meet the specific requirements and preferences of the parties involved. These types may include: 1. Seasonal Firm Storage Agreement: This type of agreement allows customers to reserve storage capacity for a specific season, typically during periods of higher natural gas demand, such as winter. It ensures that the customer has guaranteed access to the storage facility for the duration of the agreed season. 2. Long-Term Firm Storage Agreement: This agreement involves a longer-term commitment, typically spanning several years. It provides customers with a fixed storage capacity and assures them of uninterrupted access to the storage service throughout the agreed term. 3. Interruptible Storage Agreement: Unlike the firm storage agreements, this type of agreement does not guarantee access to storage capacity. Instead, it offers a lower-priced option where customers can request storage services on a non-guaranteed basis, subject to availability. 4. Capacity Release Agreement: This agreement allows a customer who has entered into a firm storage agreement to release a portion of their reserved storage capacity to another entity. It provides flexibility for customers who may no longer require the full storage capacity initially contracted. In summary, the Houston Texas Precedent Agreement for Firm Natural Gas Storage Service is a legal contract that governs the storage, injection, and withdrawal of natural gas in the Houston, Texas area. It establishes the rights and obligations of both the service provider and the customer, ensuring a fair and transparent relationship. Different types of agreements exist to accommodate various customer needs, including seasonal firm storage agreements, long-term firm storage agreements, interruptible storage agreements, and capacity release agreements.