Author: bomuo

Day when gas first starts to flow

The open season method and the first come first served method provide the winner of the tender to establish an LNG gasification facility a more or less secure picture of the situation regarding the amount of capacity ordered from the facility. The open season method enables all those who are interested to submit proposals simultaneously

The earliest arrival of energy propagated from the energy source at the surface to the geophone in the wellbore in vertical seismic profiles and check-shot surveys, or the first indication of seismic energy on a trace

Firm capacity is the amount of energy available for production or transmission which can be (and in many cases must be) guaranteed to be available at a given time. Firm energy refers to the actual energy guaranteed to be available. For instance in the transmission of natural gas a pipeline company would provide its customers with the right to use ‘firm capacity’ within the transportation (and storage) system. Other than in exceptional circumstances (such as during periods of planned maintenance) this firm capacity is expected to be available at all times and enables Shippers to transport gas, subject to conditions, into and/or out of the system

A term used in the sale of gas to denote an absolute obligation on the seller to deliver gas and the same obligation on the buyer to accept delivery of an agreed upon quantity of natural gas

Share of the total firm capacity that the terminal operator has agreed on with a shipper in a terminal access contract. The capacity is deemed to be booked as soon as the reservation request has been accepted by the terminal operator. The price of the firm capacity subscribed is the access tariff in force. A minimum payment commitment is associated with this capacity, in accordance with the tariff conditions in force