What is a Terminal Use Agreement?

What is a Terminal Use Agreement?

Terminal Use Agreement means an agreement between Owner and a Customer pursuant to which Owner agrees to accept, store and regasify LNG delivered by a Customer to the Facility and deliver Natural Gas to the Customer.

What is ACQ LNG?

Annual Contract Quantity. The Annual Contract Quantity (ACQ) is the volume of gas which the Seller must deliver and the Buyer must take in a given contract year.

What is an LNG export terminal?

An LNG terminal is a facility for regasifyng the liquefied natural gas (LNG) shipped in by LNG tanker from the production zones.

What is annual contract quantity?

The Annual Contract Quantity (ACQ) is the volume of gas which the Seller must deliver and the Buyer must take in a given contract year. It may be expressed as a discreet number or as a multiple of the Daily Contract Quantity.

What is equity gas?

Equity Gas means Gas that is produced from a Dedicated Lease and is owned and marketed by, or on behalf of, Producers.

What are the two key design capacities for a LNG terminal?

A LNG pier could accommodate LNG carriers of a range of sizes. They may be capable of handling LNG tankers of 70,000 to 217,000 cubic metres (m3) cargo capacity (QFlex); or tankers of 125,000 to 266,000 m3 cargo capacity (QMax).

What is a gas sales agreement?

A gas sale agreement (GSA) is the key agreement documenting the sale and purchase of a quantity of natural gas. This standard document GSA provides for one seller and one buyer and is drafted from a neutral point of view.

How do I sell my natural gas contract?

The most common way that traders take a position on natural gas is with a futures contract, such as the Henry Hub natural gas futures contract on the CME. With a futures contract, traders agree to the delivery of a certain amount of natural gas at a set date in the future for an agreed-upon price.

What is equity oil and gas?

Equity Oil Company operates as an oil and gas exploration and production company. The Company conducts business in the United States.

What is the meaning of equity in production?

Energy Term. Production at the wellhead attributed to ownership. Related Energy Terms.

How much does it cost to build an LNG terminal?

A new build LNG carrier might be expected to cost around $200 million to $250 million, which would typically require a charter rate of about $80,000- $100,000 per day to support capital and operating costs.

What is the difference between LNG LPG and NGL?

So, not every NGL is an LPG. Last stop is LNG, which isn’t an NGL or an LPG. It’s methane! LNG stands for Liquefied Natural Gas or Liquid Natural Gas and, as the name implies, it is traditional natural gas, which has been cooled to the point of liquefaction.

What are makeup rights?

3) Makeup Rights This is a right of the buyer in any contract year after it has made a ‘Take or Pay’ payment and has taken the delivery of Annual contract quantity for that contract year to take without payment or with reduced payment a quantity of gas equal to the deficiency quantity.