Oklahoma Gas Storage Service Agreement
Description
How to fill out Gas Storage Service Agreement?
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FAQ
Maximum Daily Quantity (MDQ): The maximum quantity of gas consumed by a customer in a 24-hour period. An LDC may set delivery obligations or delivery limits based on a customer's MDQ.
The term "Maximum Daily Quantity" or "MDQ" shall mean the total maximum MMBtu which Company shall be obligated to receive or deliver on a firm basis on any given day on behalf of customer.
Throughput agreement. An agreement to put a specified amount of product per period through a particular facility. An example is an agreement to ship a specified amount of crude oil per period through a particular pipeline.
form agreement for gas gathering services between a midstream company as the gatherer, and an upstream exploration and production company as the shipper. This Standard Document assumes, among other things, an existing gathering system that does not require expansions.
Definition. An agreement that is signed between a terminal operator and an oil company, which wants to store product at a terminal.
Pooling Point means a logical point where supply is aggregated or disaggregated; this point is not a physical point in the System, but is used solely for nomination and scheduling purposes in order to allow Shipper to aggregate gas supplies.
(f) "Maximum Daily Quantity" (MDQ) means a quantity of gas, as specified in the transportation contract between the customer and the Company, that is based on the customer's historical peak-month usage (determined from the customer's 36-month base period) plus adjustments for known or expected changes.
An oil terminal (also called a tank farm, tankfarm, oil installation or oil depot) is an industrial facility for the storage of oil, petroleum and petrochemical products, and from which these products are transported to end users or other storage facilities.
