Gas Storage Services Contract

Document Type : Review Paper

Authors
Delara Heidari 1
Majid Ghorbani Lachevani 2
Reza Mosayebi Behbahani 3
1 M.Sc. Student, Law Department, Tehran Faculty of Petroleum, ‎Petroleum University of Technology, Tehran, Iran
2 Assistant professor, Department of Oil and Gas Law, Tehran Faculty of Petroleum, ‎Petroleum University of Technology, Tehran, Iran
3 Professor, Department of Gas Engineering, Petroleum University of Technology, Ahwaz, Iran
Abstract
The common view in the field of selling and transporting natural gas is that gas is produced, sold and transported according to market needs. But since gas is usually not consumed immediately after production, it needs to be stored before reaching the final consumer. Gas storage is essentially a means to store and supply it in order to regulate the energy market. Due to the access to storage facilities and the fact that the possibility of building tanks is not available for all market participants for several reasons, including the lack of economic justification. Therefore, the owners of the facilities enter into a contract with the storage customer. The main topic of this research is to examine legal obstacles and challenges of storage service contracts, especially in underground storage. In this research, knowledge of the components and content of storage services contract and the operational, commercial and legal principles that are required to conclude a contract are provided.

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