Natural Gas Act Amendments

Summary

Natural Gas Act Amendments - Amends the Natural Gas Act to terminate Federal Power Commission authority to directly regulate sales prices of new natural gas except for new natural gas produced from offshore Federal lands. Stipulates that prices for onshore sales of new natural gas shall not exceed the ceiling price for sales of new natural gas produced from offshore Federal lands. Stipulates that prices paid for natural gas in transactions between a natural gas company and its affiliates shall not exceed prices paid in comparable sales by persons not affiliated with any natural gas company. Directs the Federal Power Commission to conduct studies and make reports regarding the nature and availability of natural gas reserves. Requires that the Commission keep current information available relating to the estimated natural gas reserves for individual fields. Establishes procedures for the establishment of ceiling prices for new natural gas produced from offshore Federal lands. Authorizes the Commission to grant exemptions to price ceilings within high-cost production areas. Establishes procedures for adjustments to price ceilings established pursuant to this Act. Directs the Commission to prohibit the curtailment of adequate supplies of natural gas for essential agricultural purposes. Stipulates that the provisions of the Natural Gas Act shall extend to synthetic natural gas. Directs the Commission to prohibit the use of natural gas as boiler fuel where adequate alternatives are available. Authorizes exemptions from such prohibition where necessary to comply with pollution control or environmental protection and safety standards. Establishes procedures for the establishment and periodic revision of national ceiling prices for the sale of old natural gas in interstate commerce.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 29 July 1976

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.