Swing Gas definition

Swing Gas means a quantity of Gas (either positive or negative) which Counterparty may nominate for delivery no later than 8:00 a.m. CCT on the last Business Day prior to the day(s) of Gas flow. Upon a proper nomination, the Parties’ obligations to deliver and receive Swing Gas shall be Firm, and Manager shall commit to deliver and receive Swing Gas at a price using the methodology set forth in Article IV and as shown in Exhibit G.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Swing Gas means a volume of Gas which Counterparty may nominate for delivery no later than 8:30 a.m. CPT on the last Business Day prior to the day(s) of Gas flow. Upon a proper nomination, the Parties' obligations to deliver and receive Swing Gas shall be Firm and Manager shall commit to deliver and sell Swing Gas at a price using the methodology set forth in Article IV and as shown in Exhibit G.

Swing Gas means Gas to be sold and purchased hereunder on a Firm basis at a Delivery Rate in excess of the Delivery Rate applicable to Base Gas, pursuant to Buyer’s explicit nomination of such Gas for delivery at such a Delivery Rate. For the avoidance of doubt, Buyer shall not be obligated to accept and purchase Swing Gas except as expressly set forth as a Swing Gas purchase in Buyer’s nominations and schedules provided to Seller hereunder.

Examples of Swing Gas in a sentence

The nomination deadline for Baseload Gas is set forth in Exhibit E, and the nomination deadlines for Swing Gas and Intra-Day Gas are set forth in Exhibit E.
Gas For Turnback Natural Gas that the Customer elects to turn back by the deadline for Swing Gas for the same day of flow, the amount credited to Customer’s account shall be lowest of the published Natural Gas Daily Midpoint Index prices for FGT Zones 1, 2 or 3 for the day the Natural Gas is to be turned back, reduced by an additional $0.5 per MMbtu.
For Turnback Natural Gas that the Customer elects to turn back by the deadline for Swing Gas, for the same day of flow, the amount credited to Customer’s account shall be lowest of the published Natural Gas Daily Midpoint Index prices for FGT Zones 1, 2 or 3 for the day the Natural Gas is to be turned back, reduced by an additional $0.5 per MMbtu.
An example of Baseload Gas and Swing Gas price calculations are attached as Exhibit G.
The revenue requirement impact of any swing gas costs incurred by Westcoast in 2018 or 2019 will be recorded in the Swing Gas Deferral Account for amortization in 2019 and 2020, respectively.
Gas delivered and taken at the Delivery Point on any Day beyond the FOM Baseload during the Period March 1, 2012 through December 31, 2012, will be deemed “Swing Gas.” RE Gas will notify BP of the quantity of Swing Gas that it intends to deliver by 9:00 a.m. Eastern time on the Day before the Day that Swing Gas is to flow.
The Minimum Monthly Quantity may be comprised of (i) FOM Baseload, (ii) replacement volumes associated with implementation of the cover standard in Section 9 (physical or financial) (“Cover Quantity”), and (iii) Swing Gas.
The price for Baseload Gas shall be determined monthly; the price for Swing Gas shall be determined daily, and the price for Intra-Day Gas shall be determined at the applicable day and hour of an Intra-Day request.
The nomination deadline for Baseload Gas is set forth in Exhibit K and the nomination deadlines for Swing Gas and Intra-Day Gas are set forth in Exhibit L.
Exhibit C details the indices to be used in calculating Baseload and Swing Gas prices.

More Definitions of Swing Gas

Swing Gas has the meaning set forth in Section 3(a).

Swing Gas is defined in Section 2.3(B).

Swing Gas means the total quantity of Committed Gas which shall be priced based on a daily index or shall be subject to the Swing Gas Re-Pricing rules of Section 2.4.6; determined by summing the quantities of Producer FOM Swing Gas, Dynegy FOM Swing Gas, and Incremental Swing Gas.