Natural Gas Supply Act

Summary

Natural Gas Supply Act - States that the provisions of the Natural Gas Act shall apply to the transportation of natural gas in interstate commerce, to the sale in interstate commerce of natural gas for domestic, commercial, industrial, or any other use, and to natural gas companies engaged in such transportation or sale, but shall not apply to any other transportation or sale of natural gas or to the local distribution of natural gas or to the facilities used for such distribution or to the production or gathering of natural gas or to the sale of natural gas dedicated for the first time to interstate commerce or rededicated upon expiration of an existing contract on or after April 15, 1973, or produced from wells commenced on or after April 15, 1973, for domestic commercial, industrial, or any other use, by any person, provided that person is not engaged in the transportation of natural gas in interstate commerce. Removes the requirement of Federal Power Commission permission before importing natural gas. Witholds power from the Commission to deny, in whole or in part, that portion of the rates and charges made by any natural gas company in connection with the purchase of natural gas exempt from the Act except to the extent that the rates or charges made for natural gas by an affiliate of the purchasing natural gas company exceed those made by persons not affiliated with the purchasing natural gas company; or to deny, in whole or in part, that portion of the rates or charges made by any natural gas company for natural gas produced from the properties of that company from wells commenced on or after April 15, 1973, except to the extent that the rates or charges made exceed those made for natural gas by persons not affiliated with the purchasing natural gas company. Authorizes the Secretary of the Interior to protect consumer interests by monitoring, for three years, the wellhead prices of natural gas sales exempted in this Act, and if necessary to establish ceilings as to the future rates of and charges for such sales.

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1 official file

• Introduced in House

  summary · EN · 6 March 1974

  Open at official source

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