Gas Balancing definition
Gas Balancing means the type of service currently provided by KeySpan whenever the aggregate daily gas taken for use by the Plant varies from the daily nominated quantity. When this occurs, Operator will cause certain assets currently owned or contracted for by KeySpan to be used to either provide additional quantities of gas required by the Plant or take back any excess quantities not required by the Plant.
Gas Balancing means the service of the type currently provided by LILCO whenever the aggregate daily gas taken by GENCO for use in the GENCO Generating Facilities varies from the daily nominated quantity. When this occurs, Energy Manager will cause certain assets currently owned or contracted for by LILCO to be used to either provide additional quantities of gas required by GENCO or take back any excess quantities of gas not required by GENCO.
Gas Balancing. Except as set forth in Schedule “3.19”, such Seller has no obligation to deliver gas (or cash in lieu thereof) from its interest in the Properties to other owners of interest as a result of past production by such Seller or its predecessors in excess of the share to which they are entitled, nor any right to receive deliveries of gas (or cash in lieu thereof) with respect to its interest in the Properties from other owners of interest as a result of past production by such Seller or its predecessors of less than the share to which they were entitled.
More Definitions of Gas Balancing
Gas Balancing. Conoco will manage and reconcile all transportation and supplier contracts for DuPont's gas supply, including maintaining accounts and records of transportation and storage of the gas, maintaining receipts and deliveries in compliance with the applicable pipeline imbalance and scheduling tolerances of the transporters, managing any imbalances within the period allowed for cure, and determining the validity of any imbalance penalty charge. This service will include management of that certain Natural Gas Transfer Agreement, dated December 12, 1991, between DuPont and Beaumont Methanol Corporation relating to delivery of gas at DuPont's Beaumont Works Plant in Jefferson County, Texas.