The Idaho Gas Storage Unit Agreement, also known as the Idaho CSU Agreement, is a legal document that establishes the terms and conditions for the establishment and operation of a gas storage unit on a depleted producing property located in Idaho. This agreement is crucial for managing and regulating the storage and withdrawal of natural gas in the state. One type of Idaho Gas Storage Unit Agreement is the Depleted Field Storage Agreement. This type of agreement is used when a previously producing natural gas field is no longer in operation and the underground reservoir is deemed suitable for gas storage. The Depleted Field Storage Agreement establishes the rights, responsibilities, and obligations of the parties involved in utilizing the depleted field for gas storage purposes. Another type is the Enhanced Gas Recovery Storage Agreement. This agreement is used when a gas reservoir is partially depleted but still capable of producing gas. The Enhanced Gas Recovery Storage Agreement allows for the recovery of residual gas from the depleted reservoir while simultaneously utilizing the site as a gas storage facility. It outlines the specific terms for extraction, storage, and injection of gas into the reservoir. The Idaho Gas Storage Unit Agreement typically includes essential elements such as: 1. Identification of parties: The agreement clearly identifies the parties involved, including the gas storage operator and the property owner. 2. Description of the property: The specific location and boundaries of the depleted producing property are detailed in the agreement. This includes information about the geological formations, underground reservoirs, and any wells associated with the property. 3. Purpose and scope: The agreement outlines the purpose of establishing the gas storage unit, such as maintaining supply stability or meeting peak demand. It also defines the scope of the gas storage operations, including the quantity of gas that can be stored and withdrawal rates. 4. Rights and privileges: The agreement specifies the rights and privileges granted to the gas storage operator, such as the right to use the property for storage purposes, access to the facilities, and the right to inject and withdraw gas. 5. Responsibilities and obligations: The agreement outlines the responsibilities and obligations of both parties, including the gas storage operator's responsibility for maintaining the integrity and safety of the facilities, ensuring environmental compliance, and providing accurate reporting. The property owner's obligations, such as granting access and maintaining the property, are also defined. 6. Compensation and financial terms: The agreement includes provisions for compensation, such as storage fees or royalties, to be paid by the gas storage operator to the property owner. It also outlines any financial liabilities, such as insurance requirements and indemnification clauses. 7. Term and termination: The agreement specifies the initial term of the agreement and any options for renewal. It also includes provisions for termination, including conditions that may trigger termination and the procedures for winding down operations. The Idaho Gas Storage Unit Agreement is a crucial legal instrument that allows for the responsible and regulated utilization of depleted producing properties for gas storage purposes. It helps ensure the safe and efficient management of natural gas resources in Idaho while promoting energy security and stability.
Idaho Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property)
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