Common use of DISPOSAL OF NATURAL GAS Clause in Contracts

DISPOSAL OF NATURAL GAS. Each Party has the right and obligation to take in kind and dispose of a share of produced Natural Gas which shall be equivalent to its Participating interest. The property right, and the liability and risk pertaining to the Natural Gas are transferred to the individual Party upon lifting at a delivery point which shall be determined by the management committee prior to commencement of production. The Parties shall enter into a gas lifting and balancing agreement which is subject to approval by the Ministry prior to the commencement of production. For adoption of the gas lifting and balancing agreement, a unanimous vote by the management committee is required. No later than eight (8) working days after the first day of each month the Operator shall submit to the management committee an overview of produced and lifted Natural Gas for the previous month and for accumulated volume since commencement of production.

DISPOSAL OF NATURAL GAS. Each Party has the right and obligation to take in kind and dispose of a share of produced Natural Gas which shall be equivalent to its Participating interestUnit Interest. The property right, and the liability and risk pertaining to the Natural Gas are transferred to the individual Party upon lifting at a delivery point which shall be determined by the management committee Management Committee prior to commencement of production. The Parties shall enter into a gas lifting and balancing agreement which is subject to approval by the Ministry prior to the commencement of production. For adoption of the gas lifting and balancing agreement, a unanimous vote by the management committee Management Committee is required. No later than eight 8 (8) eight) working days after the first day of each month the Operator shall submit to the management committee Management Committee an overview of produced and lifted Natural Gas for the previous month and for accumulated volume since commencement of production.