Title: Understanding the Virginia Gas Storage Agreement and Lease (Surface and Underground) Description: The Virginia Gas Storage Agreement and Lease (Surface and Underground) is a legally binding contract designed to govern the ownership, operation, and use of underground gas storage facilities in the state of Virginia. This agreement establishes the rights and obligations of parties involved in gas storage operations, including the storage facility owner and the lessee. Keywords: Virginia, Gas Storage Agreement, Lease, Surface, Underground Types of Virginia Gas Storage Agreement and Lease (Surface and Underground): 1. Underground Gas Storage Lease: This agreement outlines the terms and conditions of leasing underground storage space specifically for natural gas reserves. It establishes the lessee's right to store, withdraw, and manage the gas within the designated storage facility. The lease will typically detail parameters such as storage capacity, pressure limitations, and operational protocols. 2. Surface Gas Storage Agreement: In cases where underground gas storage is not feasible or available, surface gas storage becomes an alternative solution. This agreement grants the lessee the rights to construct and operate above-ground storage facilities, such as LNG (liquefied natural gas) tanks or compressed gas cylinders, for storing natural gas. It outlines the terms, conditions, and responsibilities of both the storage facility owner and the lessee. 3. Combined Underground and Surface Gas Storage Agreement: In some instances, a gas storage operation may involve both underground and surface storage components. To address this scenario, a combined agreement is created, encompassing both underground and above-ground storage arrangements. This agreement clearly defines the rights, responsibilities, and operational guidelines for both types of storage facilities. 4. Multi-Party Gas Storage Agreement and Lease: In situations where multiple parties are involved in a gas storage operation, such as a consortium of companies, a multi-party agreement is utilized. This agreement details the co-ownership, operational guidelines, and responsibilities of all participants involved in the gas storage facility. It ensures effective coordination, allocation of storage space, and adherence to regulations. The Virginia Gas Storage Agreement and Lease (Surface and Underground) plays a critical role in managing gas storage operations, enabling efficient utilization of Virginia's natural gas resources. It safeguards the interests of both parties, establishes clear boundaries, and promotes secure and sustainable gas storage practices within the state.
Virginia Gas Storage Agreement and Lease (Surface and Underground)
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FAQ
Base gas (or cushion gas) is the volume of natural gas intended as permanent inventory in a storage reservoir to maintain adequate pressure and deliverability rates throughout the withdrawal season. Working gas capacity refers to total gas storage capacity minus base gas.
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.
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.
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.
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 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.
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.