The Maryland Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a legal contract that governs the establishment and operation of a gas storage unit on a depleted producing property in the state of Maryland. This agreement outlines the rights, obligations, and responsibilities of the parties involved in the unit establishment and exploitation. The purpose of this agreement is to facilitate the conversion of a depleted oil or gas field into a gas storage facility to store and distribute natural gas. By repurposing these properties, Maryland aims to optimize its energy infrastructure and increase the availability of natural gas supply during peak demand periods. The agreement typically includes key provisions such as: 1. Parties Involved: The agreement identifies the parties involved, which typically include the property owner, the gas storage operator, and any relevant government authorities. 2. Property Description: The depleted producing property's detailed description, including its boundaries and associated assets, is provided. 3. Unit Formation: The agreement outlines the steps and procedures for establishing the gas storage unit, including obtaining necessary regulatory approvals and permits. 4. Unit Operations and Management: This section covers the responsibilities of the gas storage operator, including maintaining and operating the unit, monitoring gas inventory, and ensuring compliance with safety and environmental regulations. 5. Gas Injection and Withdrawal Rights: The agreement defines the rights and restrictions regarding gas injection and withdrawal from the storage unit. It may also outline the conditions under which the operator can restrict or limit gas withdrawals. 6. Storage Fees and Revenue Sharing: The agreement establishes the pricing mechanism and terms for storage services, including the fees charged to customers and any revenue sharing arrangements between the parties. 7. Maintenance and Repairs: The agreement addresses the maintenance, repair, and replacement of infrastructure and equipment within the storage unit, including pipelines, compressors, and storage wells. 8. Insurance and Indemnification: The parties' obligations regarding insurance coverage and indemnification for any damages or liabilities arising from the unit's operations are detailed in this section. 9. Termination and Abandonment: The circumstances under which the agreement can be terminated or the unit can be abandoned are specified, including any necessary decommissioning or site restoration requirements. 10. Dispute Resolution: The agreement may include provisions for dispute resolution, such as mediation or arbitration, to address any conflicts or disagreements that may arise between the parties. Some additional specific types of Maryland Gas Storage Unit Agreements on depleted producing properties may include agreements for underground natural gas storage, agri-energy exploration, or even renewable energy storage projects. Each agreement's terms may vary based on the specific requirements and objectives of the parties involved.
Maryland Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property)
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Gas Storage Types Which types of Gas Storage exist? Natural gas storage facilities can initially be divided into two types: aboveground and underground storage. ... Cavern storage facilities. ... Porous rock storage facilities. ... Additional Information.
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 main function of gas storages is to inject and store natural gas at time of low prices and/or low demand and use the gas by withdrawing at times of higher prices and/or higher demand. We can identify three parameters to characterize a gas storage: working gas volume, injection capacity and withdrawal capacity.
Natural gas storage comes with certain risks, including gas leaks, health hazards, environmental impacts, and infrastructure failures. However, implementing safety measures such as regular inspections, emergency response plans, enhanced monitoring systems, and public awareness campaigns can greatly reduce these risks.
Natural gas?a colorless, odorless, gaseous hydrocarbon?may be stored in a number of different ways. 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.