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Natural gas local distribution companies, utilities, power generation companies, and natural gas traders procure natural gas for a variety of reasons including for the production of energy, resale to customers, and trading purposes. Typical contracts include physical forward contracts for the purchase or sale of natural gas itself and arrangements for natural gas storage and capacity. Continuing changes in natural gas storage and transportation markets have led to the evolution of new arrangements and increased accounting complexity.
This chapter provides accounting guidance for common natural gas-related agreements, including natural gas storage, park and loan, capacity, and optimization agreements.

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