A force majeure event will typically relieve a party from a contract obligation. A pipeline interchange near Erath, LA, where a number of interstate and intrastate pipelines interconnect through a header system operated by Sabine Pipe Line. The standard delivery point for New York Mercantile Exchange natural gas futures contract. Discrepancy between the amount a shipper contracted to use or transport, and actual volumes used or transported. Shippers may be forced to pay an imbalance penalty for variances greater than a certain percentage.
Marketers sometimes take responsibility to balance load so their customers can avoid penalties.
The amount of electricity needed to light ten 100-watt light bulbs for one hour. The volume of gas that must be maintained within a pipeline or distribution system to ensure operation. Generally accepted as a rough equivalent of an Mcf. One million cubic feet. A shipper's offer to move gas on a pipeline during a given period.