This operating agreement exhibit is used in the event any party is not able to take its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which is unable at any time while the Operating Agreement is in effect to take the share of gas attributable to the interest of the party.
King Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document that plays a crucial role in the gas industry. It outlines the specifics of gas balancing agreements between parties involved in gas production, distribution, and consumption. This detailed description will shed light on the key aspects of this agreement while incorporating relevant keywords. 1. Purpose: King Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 serves the purpose of establishing a framework for the gas balancing arrangements between parties that are part of the gas supply chain. It ensures that gas quantities injected into and withdrawn from the pipeline system remain in balance, maintaining efficiency and preventing disruptions. 2. Agreement Types: There are various types of King Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1, each tailored to specific scenarios within the gas industry. Some of these agreement types may include: a) Gas balancing agreements between gas producers and pipeline operators. b) Gas balancing agreements between pipeline operators and end consumers. c) Gas balancing agreements between multiple pipeline operators in interconnected systems. d) Gas balancing agreements between gas storage facility operators and other parties. 3. Key Components: a) Parties Involved: The agreement identifies the participating parties, such as gas producers, pipeline operators, end consumers, and storage facility operators. b) Gas Balancing Principles: It outlines the principles and methodologies for gas balancing, including measurement, allocation, and accounting procedures. c) Nomination and Scheduling: The agreement defines the nomination and scheduling process for gas deliveries and withdrawals to maintain balance. d) Tolerance Limits: It sets tolerance limits or acceptable imbalances within the system that must be adhered to by all parties. e) Penalties and Remedies: The agreement may include provisions for penalties or remedies in case of non-compliance with the gas balancing requirements. f) Reporting and Communication: It establishes protocols for reporting gas quantities, imbalances, and communication channels between involved parties. g) Force Mature: The agreement may address force majeure events, providing guidelines for handling unforeseen circumstances that may disrupt gas balancing operations. In conclusion, King Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a comprehensive legal document that defines the gas balancing arrangements between parties within the gas industry. It encompasses various agreement types, such as those between gas producers, pipeline operators, end consumers, and storage facility operators. The agreement's key components include party identification, gas balancing principles, nomination and scheduling processes, tolerance limits, penalties and remedies, reporting procedures, and provisions for force majeure events.King Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document that plays a crucial role in the gas industry. It outlines the specifics of gas balancing agreements between parties involved in gas production, distribution, and consumption. This detailed description will shed light on the key aspects of this agreement while incorporating relevant keywords. 1. Purpose: King Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 serves the purpose of establishing a framework for the gas balancing arrangements between parties that are part of the gas supply chain. It ensures that gas quantities injected into and withdrawn from the pipeline system remain in balance, maintaining efficiency and preventing disruptions. 2. Agreement Types: There are various types of King Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1, each tailored to specific scenarios within the gas industry. Some of these agreement types may include: a) Gas balancing agreements between gas producers and pipeline operators. b) Gas balancing agreements between pipeline operators and end consumers. c) Gas balancing agreements between multiple pipeline operators in interconnected systems. d) Gas balancing agreements between gas storage facility operators and other parties. 3. Key Components: a) Parties Involved: The agreement identifies the participating parties, such as gas producers, pipeline operators, end consumers, and storage facility operators. b) Gas Balancing Principles: It outlines the principles and methodologies for gas balancing, including measurement, allocation, and accounting procedures. c) Nomination and Scheduling: The agreement defines the nomination and scheduling process for gas deliveries and withdrawals to maintain balance. d) Tolerance Limits: It sets tolerance limits or acceptable imbalances within the system that must be adhered to by all parties. e) Penalties and Remedies: The agreement may include provisions for penalties or remedies in case of non-compliance with the gas balancing requirements. f) Reporting and Communication: It establishes protocols for reporting gas quantities, imbalances, and communication channels between involved parties. g) Force Mature: The agreement may address force majeure events, providing guidelines for handling unforeseen circumstances that may disrupt gas balancing operations. In conclusion, King Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a comprehensive legal document that defines the gas balancing arrangements between parties within the gas industry. It encompasses various agreement types, such as those between gas producers, pipeline operators, end consumers, and storage facility operators. The agreement's key components include party identification, gas balancing principles, nomination and scheduling processes, tolerance limits, penalties and remedies, reporting procedures, and provisions for force majeure events.
