Sets forth implementation authority for natural gas release and sales predicated upon a finding that a natural gas supply shortage exists. Restricts such sales to entities customarily engaged in natural gas sale and distribution.
Instructs the Secretary of the Treasury to establish a Natural Gas Reserve Account to serve as depository for receipts from disposition of NGR natural gas.
Authorizes the Secretary of Energy to obligate amounts in such Account without the need for further appropriation. Retains the availability of such funds for obligation without fiscal year limitation.
[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 245 Introduced in House (IH)]
107th CONGRESS
1st Session
H. R. 245
To provide for the establishment of a Natural Gas Reserve.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 30, 2001
Mr. Hall of Ohio (for himself and Mr. Sanders) introduced the following
bill; which was referred to the Committee on Energy and Commerce
_______________________________________________________________________
A BILL
To provide for the establishment of a Natural Gas Reserve.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Natural Gas Reserve Act of 2001''.
SEC. 2. NATURAL GAS RESERVE.
Title I of the Energy Policy and Conservation Act is amended by--
(1) redesignating part E as part F;
(2) redesignating section 191 as section 198; and
(3) inserting after part D the following new part E:
``Part E--Natural Gas Reserve
``establishment
``Sec. 191. (a) Authority.--Notwithstanding any other provision of
this Act, the Secretary may establish, maintain, and operate a Natural
Gas Reserve. The Reserve established under this part is not a component
of the Strategic Petroleum Reserve established under part B of this
title.
``(b) Definition.--For the purposes of this part, the term `natural
gas' has the meaning given that term in section 2(1) of the Natural Gas
Policy Act of 1978 (15 U.S.C. 3301(1)).
``authority
``Sec. 192. To the extent necessary or appropriate to carry out
this part, the Secretary may--
``(1) purchase, contract for, lease, or otherwise acquire,
in whole or in part, storage and related facilities, and
storage services;
``(2) use, lease, maintain, sell, or otherwise dispose of
storage and related facilities acquired under this part;
``(3) acquire by purchase, exchange (including exchange of
petroleum products from the Strategic Petroleum Reserve or
received as royalty from Federal lands), lease, or otherwise,
natural gas for storage in the Natural Gas Reserve;
``(4) store natural gas in facilities not owned by the
United States; and
``(5) sell, exchange, or otherwise dispose of natural gas
from the Natural Gas Reserve, including to maintain the quality
or quantity of the natural gas in the Reserve or to maintain
the operational capability of the Reserve.
``conditions for release; plan
``Sec. 193. (a) Finding.--The Secretary may sell products from the
Natural Gas Reserve upon a finding that there is a natural gas supply
shortage.
``(b) Release of Natural Gas.--After consultation with the natural
gas industry, the Secretary shall determine procedures governing the
release of natural gas from the Natural Gas Reserve. The procedures
shall provide that--
``(1) the Secretary may--
``(A) sell natural gas from the Reserve through a
competitive process; or
``(B) enter into exchange agreements described in
section 192(3);
``(2) in all such sales or exchanges, the Secretary shall
receive revenue or its equivalent that provides the Department
with fair market value;
``(3) at no time may the natural gas be sold or exchanged
resulting in a loss of revenue or value to the United States;
and
``(4) the Secretary shall only sell or dispose of the
natural gas in the Reserve to entities customarily engaged in
the sale and distribution of natural gas.
``(c) Plan.--Within 45 days after the date of the enactment of this
section, the Secretary shall transmit to the Congress a plan
describing--
``(1) the acquisition of storage and related facilities or
storage services for the Natural Gas Reserve, including the
potential use of storage facilities not currently in use;
``(2) the acquisition of natural gas for storage in the
Natural Gas Reserve;
``(3) the anticipated methods of disposition of natural gas
from the Natural Gas Reserve;
``(4) the estimated costs of establishment, maintenance,
and operation of the Natural Gas Reserve;
``(5) efforts the Department will take to minimize any
potential need for future drawdowns and ensure that
distributors and importers are not discouraged from maintaining
and increasing supplies; and
``(6) actions to ensure quality of the natural gas in the
Natural Gas Reserve.
``natural gas reserve account
``Sec. 194. (a) Establishment.--Upon a decision of the Secretary of
Energy to establish a Natural Gas Reserve under this part, the
Secretary of the Treasury shall establish in the Treasury of the United
States an account known as the `Natural Gas Reserve Account' (referred
to in this section as the `Account').
``(b) Deposits.--The Secretary of the Treasury shall deposit in the
Account any amounts appropriated to the Account and any receipts from
the sale, exchange, or other disposition of natural gas from the
Natural Gas Reserve.
``(c) Availability.--The Secretary of Energy may obligate amounts
in the Account to carry out activities under this part without the need
for further appropriation, and amounts available to the Secretary of
Energy for obligation under this section shall remain available without
fiscal year limitation.
``exemptions
``Sec. 195. An action taken under this part is not subject to the
rulemaking requirements of section 523 of this Act, section 501 of the
Department of Energy Organization Act, or section 553 of title 5,
United States Code.''.
<all>
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E52)
Referred to the House Committee on Energy and Commerce.
Referred to the Subcommittee on Energy and Air Quality.
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