Kansas Gas Storage Agreement and Lease (Surface and Underground) is a legally binding contract between a gas storage operator and a lessee, outlining the terms and conditions for the storage and utilization of natural gas in Kansas. This agreement is crucial in facilitating the efficient and secure storage of gas reserves in underground reservoirs within the state. One type of gas storage agreement is the Surface Lease. It grants the lessee permission to access and utilize the surface land for constructing gas storage facilities, including wells, pipelines, and related infrastructure. The surface lease also stipulates the rental fees, surface damage compensation, and environmental compliance obligations. Another type is the Underground Lease, which governs the lessee's right to store natural gas in underground formations or reservoirs. It delineates the storage capacity, withdrawal rights, injection protocols, and other operational restrictions. The underground lease often includes provisions regarding payment terms, maintenance responsibilities, and the term of the lease. Key terms commonly found in a Kansas Gas Storage Agreement and Lease (Surface and Underground) include: 1. Term: This specifies the duration of the lease, including start and end dates, as well as any renewal or termination provisions. 2. Storage Capacity: The contractual agreement will indicate the specific storage volume that the lessee is entitled to utilize within the gas storage reservoir. 3. Injection and Withdrawal Rates: These provisions outline the maximum rates at which gas can be injected into the reservoir (during periods of excess supply) and withdrawn (during periods of high demand). 4. Custody Transfer: This section details the transfer of ownership and delivery of gas, including accurate measurement and accounting procedures. 5. Regulatory and Environmental Compliance: The agreement will ensure that the lessee complies with all relevant state and federal regulations, such as permits, safety standards, and environmental protections. 6. Rental Fees and Royalties: The lease will stipulate the rental fees and royalty rates that the lessee must pay to the gas storage operator. 7. Liability and Indemnification: These clauses outline the parties' responsibilities in case of accidents, damages, and other liabilities arising from gas storage operations. 8. Force Mature: This provision addresses unforeseen circumstances, such as natural disasters or government intervention, which may temporarily suspend or alter the obligations of both parties. In conclusion, a Kansas Gas Storage Agreement and Lease (Surface and Underground) delineates the rights, responsibilities, and obligations of gas storage operators and lessees in Kansas. By accurately defining the terms and conditions, such agreements ensure the safe and efficient utilization of underground reservoirs for storing natural gas.
Kansas Gas Storage Agreement and Lease (Surface and Underground)
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FAQ
The general process is to inject gas into the caverns using large compressors, then discharge the gas into the national grid. Due to the large pressure changes, significant temperature changes also occur and this adds a layer of complexity to the process.
Compression is needed to prepare the working and cushion gases for underground storage. After compression, H2 and NG are injected into the subsurface through injection wells. Two gases are injected into this system: working gas and cushion gas. The working gas is H2/NG.
This is achieved by taking all currently tradeable contracts and determining all possible combinations of pairs of feasible contracts (ie injection months occur before withdrawal months). Each of these pairs is valued as a CSO using the pairs' forward prices, volatilities and the correlation between them.
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. Natural gas is also stored in liquid or gaseous form in above?ground tanks.
Natural Gas Storage - Storage Fields The working gas requirement is generally about 50% of the total reservoir capacity. Gas is withdrawn in winter season and injected in summer. This type of storage facility can be used for long system supply or peak day.
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.