Kings New York Gas Storage Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Kings
• 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. The Kings New York Gas Storage Agreement is a legally binding contract that outlines the terms and conditions of storing natural gas at a facility in Kings County, New York. This agreement is typically entered into between the gas storage facility operator and the gas storage customer(s), both of whom must adhere to the terms mentioned within the contract. The agreement elaborates on key aspects such as the duration of the storage term, the maximum quantity of gas that can be stored, the delivery and injection schedules, and the applicable storage fees. It provides a framework for the rights and responsibilities of both parties involved, ensuring a smooth and streamlined gas storage process. There are different types of Kings New York Gas Storage Agreements available to cater to various customer needs. Some common types include: 1. Firm Storage Agreement: This type of agreement guarantees the gas storage customer a specific amount of storage capacity throughout the agreed storage term. It provides a reliable, uninterrupted supply of gas to meet the customer's requirements, regardless of market conditions. 2. Interruptible Storage Agreement: This agreement offers storage capacity on a non-guaranteed basis, allowing for the temporary suspension or interruption of service in case of operational constraints or high demand periods. Interruptible agreements often have lower fees but may not provide the same level of reliability as firm storage agreements. 3. Swing Storage Agreement: Swing storage agreements offer the flexibility to vary the quantity of gas stored within certain predefined limits. Customers can increase or decrease the storage inventory based on their immediate needs, allowing for better adaptation to natural gas market fluctuations. 4. Seasonal Storage Agreement: As the name suggests, these agreements specifically cater to seasonal gas storage requirements. They enable customers to store gas during off-peak seasons and withdraw it during peak-demand periods. Seasonal storage agreements help balance the supply and demand dynamics, allowing for cost-effective and efficient gas utilization. Each type of Kings New York Gas Storage Agreement has its unique features and advantages tailored to meet specific business needs and requirements. These agreements play a crucial role in ensuring a stable and secure gas storage arrangement for customers and facilitate the smooth functioning of the gas storage facility.

The Kings New York Gas Storage Agreement is a legally binding contract that outlines the terms and conditions of storing natural gas at a facility in Kings County, New York. This agreement is typically entered into between the gas storage facility operator and the gas storage customer(s), both of whom must adhere to the terms mentioned within the contract. The agreement elaborates on key aspects such as the duration of the storage term, the maximum quantity of gas that can be stored, the delivery and injection schedules, and the applicable storage fees. It provides a framework for the rights and responsibilities of both parties involved, ensuring a smooth and streamlined gas storage process. There are different types of Kings New York Gas Storage Agreements available to cater to various customer needs. Some common types include: 1. Firm Storage Agreement: This type of agreement guarantees the gas storage customer a specific amount of storage capacity throughout the agreed storage term. It provides a reliable, uninterrupted supply of gas to meet the customer's requirements, regardless of market conditions. 2. Interruptible Storage Agreement: This agreement offers storage capacity on a non-guaranteed basis, allowing for the temporary suspension or interruption of service in case of operational constraints or high demand periods. Interruptible agreements often have lower fees but may not provide the same level of reliability as firm storage agreements. 3. Swing Storage Agreement: Swing storage agreements offer the flexibility to vary the quantity of gas stored within certain predefined limits. Customers can increase or decrease the storage inventory based on their immediate needs, allowing for better adaptation to natural gas market fluctuations. 4. Seasonal Storage Agreement: As the name suggests, these agreements specifically cater to seasonal gas storage requirements. They enable customers to store gas during off-peak seasons and withdraw it during peak-demand periods. Seasonal storage agreements help balance the supply and demand dynamics, allowing for cost-effective and efficient gas utilization. Each type of Kings New York Gas Storage Agreement has its unique features and advantages tailored to meet specific business needs and requirements. These agreements play a crucial role in ensuring a stable and secure gas storage arrangement for customers and facilitate the smooth functioning of the gas storage facility.