Clark Nevada Gas Storage Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Clark
• Control #: US-OG-723
• Format: Word; Rich Text

Description

This form is used when Owner owns and operates underground gas storage facilities and Customer desires storage service for natural gas to serve its Plant, and Owner is willing to render such storage services. Clark Nevada Gas Storage Agreement is a legal contract established between a gas storage provider and a gas consumer, typically in the energy industry. This agreement outlines the terms and conditions for the storage and retrieval of gas from a storage facility located in Clark, Nevada. It serves as a legally binding document which governs the relationship, rights, and obligations of both parties involved in the gas storage arrangement. The Clark Nevada Gas Storage Agreement typically includes important elements and clauses that ensure the efficient and secure storage of the gas. These may include: 1. Parties Involved: The agreement starts by identifying the gas storage provider, often referred to as the "Storage Company," and the gas consumer, known as the "Customer." It states their names or business entities and addresses. 2. Term and Termination: This section specifies the duration for which the agreement remains in effect. It outlines the start date and end date of the agreement, including provisions for early termination or extension. 3. Storage Capacity: The agreement defines the amount or volume of gas that the storage facility is capable of holding on behalf of the customer. The capacity may be allocated in units of volume, such as cubic feet or cubic meters. 4. Injection and Withdrawal Rates: This section outlines the rates at which the customer can inject or withdraw gas from the storage facility. These rates may be expressed in actual quantities or as a percentage of the storage capacity. 5. Pricing and Payment Terms: The agreement includes details on the pricing structure for the gas storage services. It specifies the unit price per unit of storage capacity or volume and any additional charges or fees. Payment terms, such as invoicing frequency, deadlines, and accepted payment methods, are also defined. 6. Force Mature: This clause covers unforeseen events or circumstances beyond the control of the parties that may temporarily suspend or delay the performance of the agreement. It protects the parties from liability if such events occur. 7. Confidentiality and Non-Disclosure: To maintain the privacy and protect sensitive information, the agreement may include provisions regarding the confidentiality of data shared between the parties during the storage arrangement. 8. Indemnification and Liability: This section outlines the responsibilities and liabilities of each party involved in the gas storage agreement. It may include provisions regarding indemnification, limits of liability, and insurance requirements. Different types of Clark Nevada Gas Storage Agreements may exist based on specific variations in terms or purposes. These variations may include short-term agreements, long-term agreements, firm storage agreements, interruptible storage agreements, and multi-cycle storage agreements. Each type is tailored to meet the specific needs and requirements of the gas consumer and storage provider. In summary, the Clark Nevada Gas Storage Agreement is a comprehensive contract that establishes the terms and conditions for the storage and retrieval of gas from a facility located in Clark, Nevada. It outlines the rights, responsibilities, and obligations of both the gas storage provider and the customer. The agreement ensures a mutual understanding between the parties involved and establishes a framework for efficient and secure gas storage operations.

Clark Nevada Gas Storage Agreement is a legal contract established between a gas storage provider and a gas consumer, typically in the energy industry. This agreement outlines the terms and conditions for the storage and retrieval of gas from a storage facility located in Clark, Nevada. It serves as a legally binding document which governs the relationship, rights, and obligations of both parties involved in the gas storage arrangement. The Clark Nevada Gas Storage Agreement typically includes important elements and clauses that ensure the efficient and secure storage of the gas. These may include: 1. Parties Involved: The agreement starts by identifying the gas storage provider, often referred to as the "Storage Company," and the gas consumer, known as the "Customer." It states their names or business entities and addresses. 2. Term and Termination: This section specifies the duration for which the agreement remains in effect. It outlines the start date and end date of the agreement, including provisions for early termination or extension. 3. Storage Capacity: The agreement defines the amount or volume of gas that the storage facility is capable of holding on behalf of the customer. The capacity may be allocated in units of volume, such as cubic feet or cubic meters. 4. Injection and Withdrawal Rates: This section outlines the rates at which the customer can inject or withdraw gas from the storage facility. These rates may be expressed in actual quantities or as a percentage of the storage capacity. 5. Pricing and Payment Terms: The agreement includes details on the pricing structure for the gas storage services. It specifies the unit price per unit of storage capacity or volume and any additional charges or fees. Payment terms, such as invoicing frequency, deadlines, and accepted payment methods, are also defined. 6. Force Mature: This clause covers unforeseen events or circumstances beyond the control of the parties that may temporarily suspend or delay the performance of the agreement. It protects the parties from liability if such events occur. 7. Confidentiality and Non-Disclosure: To maintain the privacy and protect sensitive information, the agreement may include provisions regarding the confidentiality of data shared between the parties during the storage arrangement. 8. Indemnification and Liability: This section outlines the responsibilities and liabilities of each party involved in the gas storage agreement. It may include provisions regarding indemnification, limits of liability, and insurance requirements. Different types of Clark Nevada Gas Storage Agreements may exist based on specific variations in terms or purposes. These variations may include short-term agreements, long-term agreements, firm storage agreements, interruptible storage agreements, and multi-cycle storage agreements. Each type is tailored to meet the specific needs and requirements of the gas consumer and storage provider. In summary, the Clark Nevada Gas Storage Agreement is a comprehensive contract that establishes the terms and conditions for the storage and retrieval of gas from a facility located in Clark, Nevada. It outlines the rights, responsibilities, and obligations of both the gas storage provider and the customer. The agreement ensures a mutual understanding between the parties involved and establishes a framework for efficient and secure gas storage operations.