RE:RE:Interesting paragraph from Birchcliff Q3 I cant recall all the details but I believe the term can only be shortened if they serve notice of the termination some time in advance. That triggers an increase in the price they pay in order to compensate for the shortened term. Nothing is ever free. If you want to confirm the details you can look up the TCPL releases about their long term fixed price offering.
Yasch22 wrote: Just a couple more points of interest here.
1. Birchcliff's deal with TCPL is to ship 175,000 GJ/d.
That amounts to ~11.5% of the ~1.5m GJ/d total.
2. Advantage's deal is also to ship 20% at 2017 rates of production, or 55,600 GJ/d (3.7% of the total shipped by TCPL.) The interesting thing is that Advantage has the option of reducing the agreement by up to 5 years. So, basically, they're locked-in only for the first 5 years.
I'll look up a few other agreements a bit later. It looks as if the trend was to settle at 20% of production. I still think TCPL had these guys "over a barrel", ha ha, and with the outages and what not made the situation look so desperate that they got most of the gassers as well as the NEB "on board".