Indiana Precedent Agreement for Firm Natural Gas Storage Service is a legally binding agreement between a firm natural gas storage service provider and its customers in the state of Indiana. This agreement establishes the terms and conditions under which the service provider will store and deliver natural gas to the customers. The Indiana Precedent Agreement for Firm Natural Gas Storage Service is designed to ensure reliable and uninterrupted gas storage service to meet the needs of customers, particularly during peak demand periods or in case of emergencies. It outlines various aspects related to storage capacity, storage rates, operational procedures, and customer obligations. One type of Indiana Precedent Agreement for Firm Natural Gas Storage Service is the Seasonal Firm Storage Service Agreement. This agreement allows customers to store natural gas during specific seasons, typically when the demand is lower and prices are more favorable. This type of agreement is suitable for customers who have fluctuating natural gas needs throughout the year. Another type of Indiana Precedent Agreement for Firm Natural Gas Storage Service is the Firm Storage Service Agreement with Peak Shaving Option. This agreement allows customers to store natural gas throughout the year, while also providing the option to withdraw gas during peak demand periods. This helps customers manage their gas supplies efficiently and minimize the impact of high market prices during peak seasons. The Indiana Precedent Agreement for Firm Natural Gas Storage Service includes key provisions such as: 1. Storage Capacity Allocation: It specifies the allocated storage capacity for each customer, taking into account factors like historical usage and contract duration. 2. Storage Rates: The agreement outlines the pricing structure for storage services, including fixed charges, usage charges, and any applicable fees or surcharges. 3. Operational Procedures: It details the procedures for injection, withdrawal, and balancing of natural gas, ensuring that the storage service is operated safely and efficiently. 4. Customer Obligations: The agreement outlines the responsibilities of customers, including timely payment of bills, compliance with safety regulations, and prompt reporting of any issues or emergencies. 5. Force Mature: It includes provisions to address unforeseen events or circumstances that may impact the storage service, such as natural disasters, government regulations, or labor disputes. In conclusion, the Indiana Precedent Agreement for Firm Natural Gas Storage Service is a crucial document that ensures a reliable and efficient storage service for natural gas customers in Indiana. By providing various agreement types like Seasonal Firm Storage Service and Firm Storage Service with Peak Shaving Option, it caters to the diverse needs of customers, enabling them to manage their natural gas supplies effectively.
Indiana Precedent Agreement for Firm Natural Gas Storage Service
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GSA: Gas Sales Agreement. SPA: Sales & Purchase Agreement. MSA: Master Sale Agreement.
These agreements generally fall into one of four categories (or a combination of the categories): risk agreements, concessions, production sharing agreements (PSAs, also known as production sharing contracts, PSCs) and service contracts.
Firm transportation service is typically sold on the basis of a ?fixed demand or reservation charge? (i.e., you pay for the service whether you use it or not), whereas interruptible service is typically sold on a ?commodity basis? (i.e., you pay only if you use it).
They are known as the four natural gases and include the first four alkanes ? methane, ethane, butane, and propane. An alkane is a hydrocarbon where single bonds link together each atom. Hydrocarbons are chemical compounds made up exclusively of carbon and hydrogen atoms.
Firm contracts and interruptible contracts are two broad types of contracts for purchasing natural gas, although the legal obligations for delivering natural gas between a fuel supplier and a natural gas-fired power plant can vary, depending on their specific agreements.
A natural gas future - like all commodities - is a contract obligating the buyer to purchase a specific quantity of natural gas at a future date and price. Delivery dates are set around the 15th day of the following month.
Under interruptible contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of service provided for any given period. Payment for services under these contracts are typically due the month after the services have been performed.