Custody Transfer Point definition

Custody Transfer Point means the point at which custody, title and risk of Crude Oil passes to the Buyer, and this point will also be considered as “Delivery Point”;

Custody Transfer Point means the transfer of natural gas from upstream separation, processing, treatment, or in-field gathering to a pipeline or any other form of transportation occurring at sales metering equipment.

Custody Transfer Point means the physical point of interconnection designated in a contract or otherwise defined by the Carrier between the Carrier and (i) Trans Mountain Pipeline (Puget Sound) LLC, (ii) a receipt or delivery facility or terminal, or (iii) a Vessel, where control of Petroleum transfers from the Carrier to the Shipper or from the Shipper to the Carrier. The Custody Transfer Point for Westridge Marine Terminal shall be the outlet flange of the marine loading arms.

Examples of Custody Transfer Point in a sentence

• If the Cargo Custody Transfer Point is a marine Terminal, a Vessel must comply at all times with the applicable Terminal regulations.

• Shipper may install, maintain and operate, at the Custody Transfer Point, at its own expense, such check measuring equipment as desired, provided that such equipment shall be so installed as not to interfere with the operation of Union's measuring equipment at or near the Custody Transfer Point, and shall be installed, maintained and operated in conformity with the same standards and specifications applicable to Union's metering facilities.

• The Vessel Party shall exercise due diligence to ensure that a Vessel also have onboard any other applicable local, state or federal Proof of Financial Responsibility Certificate that may be required at the Cargo Custody Transfer Point.

• All crude oil passing through the Custody Transfer Point shall be sampled in accordance with API MPMS Chapter 8.

• Terminal Party and Terminal may, at their option, place a representative or representatives on board the Vessel to observe loading and/or discharging of Cargo and related operations during the period after the Vessel has arrived at the port wherein the Cargo Custody Transfer Point is located.

More Definitions of Custody Transfer Point

Custody Transfer Point means the physical point along a pipeline where control or ownership of crude oil or marketable natural gas transfers from one person to another;

Custody Transfer Point means the point agreed hereunder where the title and risk of Crude Oil and/or Condensate passes on from the Sellers to the BUYER. Under this Agreement, Delivery Point is the Custody Transfer Point.

Custody Transfer Point means that specific point where physical custody of the Gas transfers and at which the Parties have agreed to transfer the rights and responsibilities of custody.

Custody Transfer Point has the meaning ascribed to it in Section 11.1 (Liabilities).

Custody Transfer Point means a nonphysical (accounting) point where the transfer of Gas occurs.

Custody Transfer Point means that point at which the custody of gas transfers from ANR to LSP, which shall occur at the insulating flange between the ANR Interconnection Facilities and the LSP Interconnection Facilities.

Custody Transfer Point means the flange at the downstream of the meter at which the LNG is transferred from the LNG Carrier by a hose into the FSRU or land-based facility of LNG terminal;