The Alabama Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a legal contract between parties involved in the establishment and operation of a gas storage unit on a depleted producing property in the state of Alabama. This agreement enables parties to efficiently store and withdraw natural gas in a strategic manner, facilitating the optimal utilization of the gas reserves. Keywords: Alabama, Gas Storage Unit Agreement, Establish Unit, Depleted Producing Property, natural gas reserves, strategic utilization. Types of Alabama Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property): 1. Traditional Gas Storage Unit Agreement: This type of agreement outlines the terms, conditions, and responsibilities of the parties involved in establishing and operating a gas storage unit on a depleted producing property. It covers aspects such as storage capacity, withdrawal rates, injection rates, safety measures, operating expenses, and revenue sharing arrangements. 2. Joint Venture Gas Storage Unit Agreement: This agreement involves two or more parties collaborating in the establishment and operation of a gas storage unit on a depleted producing property. It outlines the ownership percentages, capital contributions, decision-making processes, and profit-sharing arrangements among the joint venture partners. 3. Long-Term Gas Storage Unit Agreement: This type of agreement focuses on securing long-term gas storage services on a depleted producing property. It specifies the duration of the agreement, the contracted storage capacity, withdrawal and injection rights, pricing mechanisms, and any other provisions related to ensuring uninterrupted gas storage over an extended period. 4. Seasonal Gas Storage Unit Agreement: This agreement caters to the specific seasonal needs of the gas market. It allows gas producers to store surplus natural gas during low-demand periods and withdraw it during peak-demand periods. This type of agreement often involves flexible terms, such as varying injection and withdrawal rates, to adapt to changing market conditions. 5. Convertible Gas Storage Unit Agreement: A convertible agreement provides the flexibility to convert a depleted producing property into a gas storage unit. It outlines the process, procedures, and conditions for converting the property, including obtaining regulatory approvals, conducting necessary infrastructure modifications, and ensuring compliance with safety and environmental standards. In summary, the Alabama Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) encompasses various types of agreements that govern the establishment, operation, and utilization of gas storage units on depleted producing properties in Alabama. Each type addresses specific aspects and needs depending on the parties involved and the nature of the gas storage project.
Alabama Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property)
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In practice, a storage process needs a base gas (or cushion gas). Various gases can serve as base or cushion, including N2, CH4, or CO2, amongst others. The philosophy behind the necessity of the cushion gas is the need for retaining the reservoir pressure as the hydrogen is being withdrawn.
Working gas (working gas volume) is the gas volume which can be withdrawn from a storage facility during an autumn-winter period and injected back into the storage during the spring-summer period.
Cushion gas is the amount of gas that is permanently stored in a natural gas storage. The main function is to maintain sufficient pressure in the storage to allow for adequate injection and withdrawal rates at all times. Another name for this type of gas is base gas.
There are three principal types ? depleted gas reservoirs, aquifer reservoirs and salt cavern reservoirs. Each of these types has distinct physical and economic characteristics which govern the suitability of a particular type of storage type for a given application.
Natural gas, like most other commodities, can be stored for an indefinite period of time. The exploration, production, and transportation of natural gas takes time, and the natural gas that reaches its destination is not always needed right away, so it is injected into underground storage facilities.
The working gas volume (WGV) is the amount of natural gas that can be injected, stored and withdrawn during the normal commercial operation of a natural gas storage facility.
Base gas (or cushion gas) is the volume of natural gas intended as permanent inventory in a storage reservoir to maintain adequate pressure and deliverability rates throughout the withdrawal season. Working gas capacity refers to total gas storage capacity minus base gas.
Depleted natural gas or oil fields function as gas storage reservoirs in California. Natural gas is injected into the storage reservoirs through gas storage wells and stored until withdrawn for use. There are 12 underground natural gas storage fields in the state.