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Title: Elements Of Natural Gas Liquids Contracts
Author: Jenifer L. Lucas
Source: 1984 International School of Hydrocarbon Measurement
Year Published: 1984
Abstract: As most people in the energy industry are aware, natural gas liquids were originally thought of as mere nuisances. They were among the elements which had to be removed from natural gas after it left the well so that the natural gas would then be marketable. Over a half cenury later, the natural gas liquids industry is big business. Natural gas liquids contracts have the same basic elements as any contract, and the processing agreements in particular have certain elements similar to those of gas purchase contracts. Yet, because the liquids industry is unique, the contracts used in that business must have some unique provisions. While a wide variety of contracts is administered by the Contracts Section of Cities Services Natural Gas Liquids Group, among the most specialized are the product exchange agreements used in conjunction with the fractionation facilities. Even among the four facilities operated by the NGL Group, contract provisions vary somewhat. However, the scope of this paper will be limited to the examination of a product exchange agreement used In connection with the Mont Belvieu I Fractionation Facility. This type of agreement is used for long-term arrangements the NGL Supply Department uses a greatly abbreviated form for short-term agreements.

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