Gas Balancing Agreement Law and Legal Definition Form
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People also ask
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What is a gas balancing agreement?
A gas-balancing agreement is a contract between the owners of a gas well to balance the production of gas if one owner sells more of the gas stream than the others. This agreement is necessary because co-owners often sell their share of production to different purchasers, which can lead to imbalances in production.
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How does gas balancing work?
In the case of an end user, balancing allows the customer to take gas each day matched to her actual demand (rather than her anticipated demand, which may be quite different) and either owe gas back to the LDC/pipeline or have gas owed to her.
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What is a balancing agreement?
Balancing Agreement means any agreement for the provision of balancing and related services entered into between the Producer and a Balance Responsible Entity designated by the Buyer through the duration of the Agreement.
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What is a gas balancing charge?
Natural Gas Balancing Item is the difference between the amount of natural gas delivered to a region or market versus the amount of gas supply that is consumed. The balancing item represents the unaccounted-for gas, including measurement errors, losses during transmission and storage, and unreported usage.
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What is a balance agreement?
balance agreement means an open supply contract between the system operator and a balance provider by which the system operator undertakes to sell to or purchase from the balance provider the amount of balancing electricity necessary to maintain its balance during each trading period; Sample 1Sample 2Sample 3.
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What is a balancing agreement?
Balancing Agreement means any agreement for the provision of balancing and related services entered into between the Producer and a Balance Responsible Entity designated by the Buyer through the duration of the Agreement.
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What is balancing gas?
Natural Gas Balancing Item is the difference between the amount of natural gas delivered to a region or market versus the amount of gas supply that is consumed. The balancing item represents the unaccounted-for gas, including measurement errors, losses during transmission and storage, and unreported usage.
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