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Upstream Natural Gas > Quizlet Questions > Flashcards

Quizlet Questions Flashcards

1
Q

ACA

A

Annual Charge Adjustment - surcharge permitted by FERC for pipelines to charge shippers (us). This fee is passed back to the FERC

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2
Q

At the Hole vs In The Hole

A

Natural Gas that has arrived at the storage facility but has not been injected is “at the hole”. Once injected, it is netted of injection fuel and is considered “In the hole”.

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3
Q

Backhaul

A

A paper transport of natural gas by displacement against the flow on a single pipeline, so that the natural gas is redelivered upstream of its point of receipt

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4
Q

Banked Gas

A

Volume of gas, positive or negative, left on Piedmont’s system to be resolved at a future time. Only former NCNG customers have this in their contracts.

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5
Q

Base Load

A

A fixed volume of gas taken or delivered each day for at least a month. The Supply Contract version contains the MDQ but the nomination (which refers to the contract version) is where the actual volumes are.

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6
Q

“Receipt TP 1000065”

A

Transfer Point Station 65 or zone 3

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7
Q

Boil Off

A

A natural phenomenon which occurs when liquified natural gas in a storage vessel warmes to its boiling point and gases evolve.

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8
Q

Business Area

A

a Division of business territory based on Gas Accounting’s reporting of the cost of gas. Currently just Tenn and NCSC.

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9
Q

Call

A

An option contract that gives the holder the right but not the obligation to Buy a commodity at a specified price (strike Price) on or before a specified date.

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10
Q

Capacity Release

A

Process of the assignment or release of part or all of firm transportation rights to another party; done on a temporary or permanent basis.

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11
Q

Capacity Rights

A

Refers to the level of firm transportation service to shich a customer has a contractual right.

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12
Q

Cash Out

A

Procedure in which shippers are allowed to resolve imbalances by cash payments, in contrast to making up imbalances with gas volumes in-kind

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13
Q

Commodity Charge

A

A charge per unit or heat content of gas delivered to the buyer.

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14
Q

Common Gas Area (CGA)

A

Group of geographically co-located meters. A calculation of their volume less the LNG withdrawal and boil-off is used in S2k billing

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15
Q

Confirm nomination

A

A notification from the pipeline that the pipeline will perform this requiested nomination.

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16
Q

Daily Average sendout

A

The total quantity of gas delivered for a period of time divided by the number of days in the period.

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17
Q

One Dekatherm = ? Btu’s

A

One million

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18
Q

Delivery Point

A

A designated takepoint on the pipeline where gas is delivered.

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19
Q

Demand

A

Rate at which natural gas is required by a system for a designated period

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20
Q

Demand Charges

A

The portion of a rate for gas service which is billed to the customer whether they use the service or not.

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21
Q

Docket

A

A formal proceeding before the state Commission. Docket number are assigned to individual proceedings.

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22
Q

DPE

A

Delivery Point Enttitlement; An agrement between the pipeline and Piedmont about the minimum pressure and volume available consistently.

23
Q

ESS

A

Eminence Storage Service. ESS is on the Transco pipeline near Hattiesburg, MS. It is near a Transco/TGP interconnect.

24
Q

Base Gas vs Top Gas

A

Base is a volume of gas intended as a permanent inventory in a storage resevoir to maintain adequate pressure and deliverability. Anything above is top gas.

25
Q

Bundled Storage

A

A storage that includes transportation service and fees to and from the delivery location; No separate trans contract necessary; Includes Transco LNG and GSS.

26
Q

Unbundled Storage

A

Storage service that does not include transportation and gas must be nominated to and from the storage location on a separate transportation contract.

27
Q

Ferc

A

The Federal Energy Regulatory Commission. An agency that regulates the interstate electric power and natural gas industries.

28
Q

IF FOM

A

Inside Ferc Gas Merret Report publication that sets the price for the full month on the First of the Month (FOM).

29
Q

Force Majeure

A

Irresistible forces that excuses a failure to perform.

30
Q

FSS

A

Firm Storage Service on TCO (Columbia) located in KY. Currently the asset managed by United Energy (2015).

31
Q

Gasification

A

The process during which liquified natural gas (LNG) is returned to its vapor or gaseous state through an increase in temperature and a decrease in pressure.

32
Q

In-Field Transfer

A

Transferring inventory from two parties in the same storage facilities. We may buy or sell inventory. Ther are no charges for the movement of the gas because it stays in the same place.

33
Q

IT vs FT

A

Interuptible transportation vs firm transportation. FT is firm which cannot be curtailed except for a force majeure

34
Q

Jurisdiction

A

State or federal agency having regulatory jurisdiction over the transportation or sale of the natural gas. Determined by the jurisdiction of the tranportation contract used.

35
Q

Keep whole contract

A

A baseload contract in which PNG may choose not to take the gas; if PNG does not take the gas, we still pay the reservation fee and the ultimate gain or loss on sale is settled between supplier and buyer.

36
Q

Lateral

A

A pipe in a gas distribution or transmission system which branches away from the central and primary part of the system.

37
Q

LAUF

A

Lost and unaccounted for gas through a system. Determined by Gas Accounting.

38
Q

Liquifaction

A

Any process that turns a gas into a liquid.

39
Q

Margin Decoupling

A

A rate design that breaks the link between how much natural gas is delivered to customers and profits. The rate design encourages customers to conserve and use energy more efficiently through incentives and promotions.

40
Q

MDQ

A

Maximum Daily Quantity - The greatest quantity of gas to ve received and or delivere in a 24 hour period by the trnasporting pipeline on behalf of the shipper under terms defined in a contract.

41
Q

Meter Station

A

A location on the main pipeline where sales meters are located and gas may be transferred from pipeline to consumer.

42
Q

NCUC

A

NC Utilities Commission - agency that regulates the rates and services of all public utilities in NC.

43
Q

Nomination

A

Requests to pipeline under a contractual agreement to trnasport natural gas from specified receipt points to specified delivery points..

44
Q

OBA Agreement

A

Operational balancing agreement; An agreement that we have with a pipeline but not an asset manager. It determines if we have to cash out, swing to storage or make up imbalances.

45
Q

OSS Pool to Pool

A

Sale of gas at a pool location; Accomplished with a no cost capacity contract. No transportation necessary.

46
Q

Office of Regulatory Staff

A

A SC state agency whose mission is to represent the public interest in utility regulation for the major utility industries.

47
Q

PDA

A

Predetermined Allocation Agreement - An agreement directing a pipeline on how to allocate an imbalance among shippers and suppliers. Compared to OBA’s which allocate imbalances to the operator.

48
Q

Put

A

An option contract that gives the holder the right but not the obligation to SELL a commodity at a specified price (strike Price) on or before a specified date.

49
Q

Rate Base

A

The investment value established by a regulatory authority upon which a utility is permitted to earn a specified rate of return.

50
Q

Rate Stablization Act

A

A SC law design to reduce volatility of customer rates by allowing for more effcient recovery of the costs that regulated utilities incur in expanding, improving and maintaining natural gas service infrastructure.

51
Q

Receipt Point

A

A designated takepoint on the pipeline where PNG receives gas.

52
Q

Reservation Fee

A

A set fee to reserve the rights to have gas available. The fee will be paid even if the gas is not taken except in force majeure conditions.

53
Q

Sale for Resale (SFR)

A

Sales made to a LDC, pipeline or municipality where the gas will be resold by the purchaser. Always spans lower volume months.

54
Q

Scheduling

A

A process by which nominations are first consolidated by receipt point, by contract and verified with upstream/downstream parties.

Upstream Natural Gas (3 decks)

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