The Indiana Gas Storage Agreement and Lease is a legal contract entered into between a landowner and a gas storage company for the use of surface and underground land and facilities in Indiana for the purpose of gas storage. This agreement outlines the terms and conditions under which the landowner grants the gas storage company the rights to store and extract natural gas from their property. In Indiana, there are two types of Gas Storage Agreement and Lease: surface storage and underground storage. Surface storage allows for the storage of natural gas in above-ground facilities such as tanks or reservoirs, while underground storage involves the use of underground formations, such as depleted gas or oil fields, for storage purposes. This agreement typically includes various key provisions, such as the duration of the lease, detailed rights and obligations of both parties, procedures for gas injection and withdrawal, payment terms, insurance requirements, and environmental responsibilities. It also addresses issues related to property access, maintenance and repairs, decommissioning, and potential liabilities associated with gas storage activities. The Gas Storage Agreement and Lease is crucial for both landowners and gas storage companies, as it establishes a legal framework that protects the rights and interests of both parties involved. It ensures that the storage activities are conducted in compliance with state and federal regulations, environmental guidelines, safety standards, and industry best practices. Landowners benefit from this agreement by generating income through lease payments, while gas storage companies gain access to suitable land and infrastructure for their storage operations. The agreement also allows gas storage companies to optimize their storage capacity, ensure reliable gas supply during peak demand periods, and contribute to overall energy stability and security in Indiana. In summary, the Indiana Gas Storage Agreement and Lease (Surface and Underground) is a comprehensive legal document that governs the rights, obligations, and mutual responsibilities of landowners and gas storage companies regarding the use of land and facilities for gas storage in Indiana.
Indiana Gas Storage Agreement and Lease (Surface and Underground)
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It is most commonly held in inventory underground under pressure in three types of facilities. These underground facilities are depleted reservoirs in oil and/or natural gas fields, aquifers, and salt cavern formations.
Salt caverns are ideal for gas storage because the salt is impermeable, so the gas cannot escape. This proven technology, which is widely used for propane, natural gas, compressed air and other products, uses brine injection and removal to control propane inflow and outflow from the sealed, pressurized cavern.
Natural gas is stored in large volumes in underground facilities and in smaller volumes in tanks above or below ground.
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.
Unlike underground facilities where the gas is injected in its current state, above ground storage facilities use a process called liquefaction to chill the gas until it changes to liquid.