Cost Gas definition

Cost Gas means the portion of the Available Gas as set out in accordance with Article 6 that the Contractor may freely retain each Calendar Year for the purposes of recovery of its Hydrocarbons Costs.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Cost Gas means the portion of the available Natural Gas that the Contractor may freely retain and export each Calendar Year for the purposes of recovery of its Petroleum Costs;

Cost Gas means the portion of the Available Gas, less the quantity corresponding to the value required for Royalty payment, as set out in accordance with Article 14., that the Investor may retain each Calendar Year for the purposes of recovery of its Petroleum Costs. „Troškovni plin” znači dio Pridobivenog plina, umanjenog za količine ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ pridobivene količine ugljikovodika u skladu s člankom 14., koji Investitor može zadržati svake Kalendarske godine za potrebe povrata svojih Troškova ugljikovodika.

Examples of Cost Gas in a sentence

• The account is to be funded on a quarterly basis by the Contractor constituting the Contractor and the Government in proportion to the Contractor’s then current Participating Interest under this Contract and out of its share of ongoing Cost Oil, Cost Gas, Profit Oil and Profit Gas attributable to the Contractor and the Government entities, or by cash payment if production is insufficient.

• The account is to be funded on a quarterly basis by the Contractor constituting the Contractor and the Government in proportion to the Contractors then current Participating Interest under this Contract and out of its share of ongoing Cost Oil, Cost Gas, Profit Oil and Profit Gas attributable to the Contractor and the Government entities, or by cash payment if production is insufficient.

• Any Available Oil and/or any Available Gas produced from the Hydrocarbon Operations conducted in accordance herewith shall be shared between the Parties as set out in this Article 8 and the Contractor shall be entitled to take and receive and freely export its Cost Oil and Cost Gas and share of Profit Oil and Profit Gas.

• Title to Cost Oil and Cost Gas and the Investor’s share of Profit Gas and Profit Oil shall pass to the Investor at the Delivery Point.

• Title to Cost Oil and Cost Gas and the Contractor’s share of Profit Gas and Profit Oil shall pass to the Contractor at the Delivery Point.

• Any unrecovered Recoverable Contract Expenses shall be recovered out of the Cost Gas Revenues available in the next succeeding year or years in the same manner as set out herein.

• After recovery of such Operating Expenses, Exploration Expenses and Development Expenses, any excess Cost Gas Revenues available for distribution shall be applied to recover Market and Market Research Costs associated with Additional Gas production, and PanAfrican Tanzania and TPDC shall be entitled to recover such expenses in proportion to their individual cumulative unrecovered Market and Market Research Costs.

• After recovery of such Operating Expenses, any excess Cost Gas Revenues available for distribution shall be applied to recover Exploration Expenses associated with Additional Gas production.

• To the extent that in any year such Recoverable Contract Expenses exceed the Cost Gas Revenues available hereunder, the unrecovered excess shall be carried forward for recovery in the next succeeding year and, to the extent not then recovered, in the subsequent year or years.

• To the extent that in any year such Recoverable Contract Expenses exceed the Cost Oil Revenues available hereunder, the unrecovered excess may be applied against Cost Gas Revenues for such year (after allocation of all Recoverable Contract Expenses associated with Natural Gas production for such year), and the balance shall be carried forward for recovery from Cost Oil Revenues in the next succeeding year and, to the extent not then recovered, in the subsequent year or years.

More Definitions of Cost Gas

Cost Gas has the meaning assigned in Article 36;

Cost Gas means the volume of natural gas, capped at an agreed percentage between the parties in respective agreement, which the contractor is entitled to take out of produced volume after deducting royalty due to government, and apply it to recover all recoverable contract expenses incurred under the contracted area;

Cost Gas means, the proceeds realized from the sale of Natural Gas produced from the Contract Area to enable the parties recover their respective costs incurred in carrying out Petroleum Operations with respect to non-associated gas under the SAAs.

Cost Gas shall have the meaning ascribed to it in Article 12 of this Agreement;

Cost Gas means all exploration expenses, development expenses, operating expenses, service costs and general and administrative costs recovered from a volume of natural gas produced under the Ruvuma PSA. Such fiscal terms for the production of gas are currently being negotiated with the Tanzanian authorities and expected to form part of an amended Ruvuma PSA;

Cost Gas means, the portion of the total value of Available Natural Gas from the Contract Area which the Licensee is entitled to take in a particular period, for the recovery of Contract Expenses as set out in Article 11.