Natural Gas Marketing Improvements Act of 1982

Summary

Natural Gas Marketing Improvements Act of 1982 - Amends the Natural Gas Policy Act of 1978 to provide that any contract for the sale of natural gas to any pipeline shall be deemed to include a purchase requirement adjustment clause, unless otherwise expressly provided in the contract. Provides that under a purchase requirement adjustment clause a purchaser may refuse to accept any portion of the gas purchased if the purchaser determines there is not a market for the gas. Prohibits a purchaser from reducing the volume accepted below 50 percent of the amount the purchaser contracted to take. Requires a purchaser to reduce the volume of the highest price gas first. Voids any contract provision that requires payment for gas not accepted pursuant to this Act. Prohibits a purchaser who has not accepted the full amount of gas under a contract from accepting gas for an equal or higher price under a new contract. Requires the Federal Energy Regulatory Commission to consider a pipeline's use of a purchase requirement adjustment clause in any purchase gas adjustment or general rate proceeding involving that pipeline. Provides that any contract for the sale of natural gas to any pipeline shall be deemed to include a transportation obligation clause. Provides that under a transportation obligation clause any purchaser who has exercised the right to reduce the volume of gas for which the purchaser contracted must provide, on behalf of the seller, transportation of any such gas which: (1) is involved in the reduction; (2) is resold by the seller to another purchaser; and (3) the purchaser would be required to pay for in the absence of the exercise of such contract provision. Provides that the consideration for any such transportation shall be $.05 per million Btu's plus the cost of transportation.

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1 official file

• Introduced in House

  summary · EN · 16 September 1982

  Open at official source

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