Lost Gas definition

Lost Gas means any Gas lost or unaccounted for incident to the operations of the System, including, but not limited to, lost or unaccounted for gas resulting from leakage, discrepancies due to meter inaccuracies or variations of temperature or pressure.

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Lost Gas has the same meaning herein as defined in the Anchor Shipper Gathering Agreement.

Lost Gas means, where used in any Gas Transportation Agreement entered into before the Initial Effective Date, UFG.

Examples of Lost Gas in a sentence

• Gatherer will exercise prudent operational oversight on each System to minimize the potential for Lost Gas.

• Shipper’s prorated share of Lost Gas shall be determined and allocated by Gatherer based on Shipper’s Gas volumes in the System proportionate to total Gas volume in the System.

• The quantities of Dedicated Production delivered at a Delivery Point will be Thermally Equivalent to the quantities of Dedicated Production received in accordance with the terms of this Agreement at a Receipt Point, less Shipper’s share of Fuel and Lost Gas, and any applicable reduction pursuant to Section 3.3.3 of this Agreement.

• Prior to allocation of Fuel and Lost Gas, Shipper’s Receipt Point Volume shall be reduced for any corresponding gas lift volumes delivered to a Gas Lift Meter for usage in ▇▇▇▇▇ upstream of the corresponding Receipt Point.

• Subject to the terms of this Agreement, Gatherer will receive, accept and gather the Dedicated Production at the Receipt Points, and deliver the Dedicated Production at the Delivery Points, less applicable Fuel and Lost Gas.

• All Lost Gas on a System caused by the actions of unaffiliated Third Parties and recovered by Gatherer shall be credited, proportionately on an MMBtu basis, to all shippers on such System.

• For the receipt of Gas from a Shipper Installed Asset, Shipper will pay Gatherer a gathering fee equal to twenty-five percent (25%) of the in-effect Gathering Fee for the System, one hundred percent (100%) of the Compression Fee for the System, and one hundred percent (100%) of the proportionate share of actual Fuel and Lost Gas on the System.

• Commencing after December 31, 2011, and subject to the additional terms defined and set forth in Exhibit 9.4, if Gatherer’s calculations pursuant to Section 2.2 of Exhibit 9.4 indicate that an FLG Exceedance has occurred in any Super-System or System, the FLG Report sent by Gatherer shall include an explanation, system balance report, and cost estimate for a remedy that is reasonably expected to prevent Fuel and Lost Gas from exceeding the Total FLG Cap in the future (“FLG Proposal”).

• If after the date hereof, any governmental authority enacts, imposes, or amends any Law that results in a change in the way Fuel or Lost Gas are measured or calculated, either Party may provide written notice thereof to the other Parties.

• The System Owners may elect, by Supermajority Vote of all Participating System Owners in each System proposed to be combined, to combine one or more Systems together and/or with other systems of Midstream Assets outside of the AMI (as combined, a “Super-System”) for the purpose of facilitating combined Fuel and Lost Gas, Gas volume allocations and nominations over a wider area.

More Definitions of Lost Gas

Lost Gas means the decrease in Gross Heating Value (expressed in MMBtus) which results from lost and unaccounted for Gas on the Gathering System. Shipper’s proportionate share of Lost Gas shall be stated in MMBtus and shall be determined in accordance with Gatherer’s standard allocation procedures on a proportional basis; provided, however, that, Shipper’s average proportionate share of Lost Gas for each 12 Month period ending on an anniversary of the Effective Date (an “Annual Period”) shall not exceed three and one-half percent (3.5%) of the Gas tendered by Shipper at the Receipt Points during such 12 Month period; provided, further, that Gatherer shall use commercially reasonable efforts to minimize Lost Gas. Lost Gas shall be calculated as an amount equal to the sum of all System Receipts minus the sum of all System Deliveries stated in MMBtus. System Receipts shall consist of all Gas delivered to at all receipt points (including the Receipt Points) on the Gathering System. System Deliveries shall consist of all Gas delivered to all delivery points on the Gathering System (including the Delivery Points), all Gas delivered to producers connected to the Gathering System (including Shipper) to support Gas Lift Operations, Gas flared on the Gathering System, fuel used in the operation of the Gathering System and Drip collected on the Gathering System. The percentage of Lost Gas shall be calculated as the sum of all System Receipts minus all System Deliveries divided by the sum of all System Receipts. Each Month, Gatherer shall report to Shipper the total Lost Gas on the Gathering System and Shipper’s proportionate share of Lost Gas. At the end of each Annual Period, if Shipper’s average proportionate share of Lost Gas for such Annual Period exceeds three and one-half (3.5%), then Gatherer shall pay Shipper an amount equal to the amount of Lost Gas for such Annual Period in excess of 3.5% multiplied by the average of the index prices as reported in Inside FERC’s Gas Market Report first issue published during each of the Months in such Annual Period, under the heading “Prices of Spot Gas Delivered to Pipelines (per MMBTU) using the Houston Ship Channel Index.”

Lost Gas refers to the gas which escaped from the core during the core lifting process.