Natural Gas Swaps
The terms and conditions of the swaps incorporate by reference such credit and other terms as the parties may establish through their pre-existing bilateral agreement. The swaps have the following characteristics:
Contract Overview: | An agreement to exchange a stream of cash flows by reference to the difference between a fixed rate and a floating rate or between two floating rates based on a specified notional amount over a specified term to maturity. |
Trade Date: | As agreed by the parties. |
Effective Date: | The date on which the calculation of accrued obligations under the contract. |
Commodity: | Natural Gas |
Notional Amount: | As agreed by the parties for each relevant commodity. |
Settlement Dates: | As agreed by the parties. |
Termination Date: | As agreed by the parties. |
Fixed Price Payer: | Party [A/B], if applicable. |
Fixed Price: | [currency] [amount in numerlas] [per units of commodity] |
Floating Price Payer: | Party [A/B], or both Party A and B, if applicable. |
Floating Price: | As agreed by the parties. |
Pricing Differential: | If applicable, as agreed by the parties. |
Pricing Source: | Natural Gas Intelligence, Canadian Gas Price Report, Inside FERC, or Platts/McGraw Hill, as determined by the parties. |
Specified Delivery Point: | If applicable, as agreed by the parties. |
Pricing Date(s): | If applicable, as agreed by the parties. |
Method of Averaging: | If applicable, as agreed by the parties. |