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Title: Elements Of Gas Contracts
Author: Jack W. Walker
Source: 1996 International School of Hydrocarbon Measurement
Year Published: 1996
Abstract: The early long-tenn contract was typically for twenty or more years (sometimes life-of-lease), usually at a fixed price or with only small price escalation, and the buyer was a pipeline company. As undersupply was experienced in the 1970s, contracts with high prices and high take-orpay commitments were routine. In the 1980s as prices fell, the spot, or 30-day interruptible contract, became common, and the buyers were end users at the far end of the pipeline or brokers who bought from the Seller at the wellhead and resold to the end users

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