King Washington Precedent Agreement for Firm Natural Gas Storage Service

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

Description

This form is a precedent agreement for a firm national gas storage service. The King Washington Precedent Agreement for Firm Natural Gas Storage Service is a legally binding contract that serves as a reference for the provision of natural gas storage services in the King Washington area. This agreement outlines the terms and conditions between the storage service provider and the customer, ensuring transparency, efficient operations, and a clear understanding of roles and responsibilities. Key elements of the King Washington Precedent Agreement for Firm Natural Gas Storage Service include: 1. Natural Gas Storage Service: This agreement establishes the framework for the provision of firm natural gas storage services to customers in the King Washington region. It defines the scope of services, which may include injection, withdrawal, and capacity reservation. 2. Duration and Termination: The agreement specifies the duration of the storage service contract, including any renewal options. Additionally, it outlines the circumstances under which either party can terminate the agreement, such as breach of terms or non-payment. 3. Capacity and Deliverability: The agreement defines the storage capacity available to the customer and the associated deliverability rates. It sets the maximum and minimum quantities of natural gas that can be stored and withdrawn, ensuring consistency and reliability of service. 4. Nomination and Scheduling: This section describes the procedures for nominating and scheduling gas injections and withdrawals. It details timelines, communication methods, and any penalties for non-compliance to ensure proper coordination between the parties involved. 5. Rates and Charges: The agreement outlines the pricing structure, including storage rates, capacity charges, and any applicable fees. It may also consider balancing charges, commodity rates, and any other related costs, providing transparency and predictability for both parties. 6. Force Mature: This clause addresses unforeseen circumstances, such as natural disasters or regulatory changes, which may impact the ability to perform obligations under the agreement. It establishes the rights and responsibilities of each party during such events. 7. Confidentiality and Intellectual Property: The agreement ensures the confidentiality of any proprietary or sensitive information exchanged during the storage service provision. It also addresses intellectual property rights, licensing, and usage restrictions, safeguarding the interests of both parties. Different types of King Washington Precedent Agreement for Firm Natural Gas Storage Service may exist based on specific requirements or variations in the scope of services. For example, agreements might differ in terms of capacity thresholds, injection and withdrawal rates, storage location, or the specific terms and conditions related to each customer. In conclusion, the King Washington Precedent Agreement for Firm Natural Gas Storage Service acts as a comprehensive document that outlines the key aspects of the natural gas storage service relationship between the provider and the customer. It ensures clarity, fairness, and effective operations by addressing various provisions, including service capacity, rates, termination clauses, and force majeure events.

The King Washington Precedent Agreement for Firm Natural Gas Storage Service is a legally binding contract that serves as a reference for the provision of natural gas storage services in the King Washington area. This agreement outlines the terms and conditions between the storage service provider and the customer, ensuring transparency, efficient operations, and a clear understanding of roles and responsibilities. Key elements of the King Washington Precedent Agreement for Firm Natural Gas Storage Service include: 1. Natural Gas Storage Service: This agreement establishes the framework for the provision of firm natural gas storage services to customers in the King Washington region. It defines the scope of services, which may include injection, withdrawal, and capacity reservation. 2. Duration and Termination: The agreement specifies the duration of the storage service contract, including any renewal options. Additionally, it outlines the circumstances under which either party can terminate the agreement, such as breach of terms or non-payment. 3. Capacity and Deliverability: The agreement defines the storage capacity available to the customer and the associated deliverability rates. It sets the maximum and minimum quantities of natural gas that can be stored and withdrawn, ensuring consistency and reliability of service. 4. Nomination and Scheduling: This section describes the procedures for nominating and scheduling gas injections and withdrawals. It details timelines, communication methods, and any penalties for non-compliance to ensure proper coordination between the parties involved. 5. Rates and Charges: The agreement outlines the pricing structure, including storage rates, capacity charges, and any applicable fees. It may also consider balancing charges, commodity rates, and any other related costs, providing transparency and predictability for both parties. 6. Force Mature: This clause addresses unforeseen circumstances, such as natural disasters or regulatory changes, which may impact the ability to perform obligations under the agreement. It establishes the rights and responsibilities of each party during such events. 7. Confidentiality and Intellectual Property: The agreement ensures the confidentiality of any proprietary or sensitive information exchanged during the storage service provision. It also addresses intellectual property rights, licensing, and usage restrictions, safeguarding the interests of both parties. Different types of King Washington Precedent Agreement for Firm Natural Gas Storage Service may exist based on specific requirements or variations in the scope of services. For example, agreements might differ in terms of capacity thresholds, injection and withdrawal rates, storage location, or the specific terms and conditions related to each customer. In conclusion, the King Washington Precedent Agreement for Firm Natural Gas Storage Service acts as a comprehensive document that outlines the key aspects of the natural gas storage service relationship between the provider and the customer. It ensures clarity, fairness, and effective operations by addressing various provisions, including service capacity, rates, termination clauses, and force majeure events.