Natural Gas Emergency Act

Natural Gas Emergency Act - Defines terms used in this Act. Directs the Federal Power Commission, not later than the end of the fifteen-day period which begins on the date of enactment of this Act, and as necessary throughout the supply emergency period, upon petition or upon its own motion, to designate priority interstate purchasers.

Stipulates that the Commission shall, by rule, not later than the end of the fifteen-day period which begins on the date of enactment of this Act, establish an area ceiling price applicable to any first sale of new natural gas (except first sales of new natural gas produced from lands located on the Outer Continental Shelf) for each area in the United States in which natural gas is produced. Directs the Commission to designate areas to which such ceiling prices shall apply. Requires that such ceiling price shall, to the maximum extent practicable, approximate the average sales price, as determined by the Commission, for contracts entered into or renewed during the period from August 1, 1975, through August 31, 1975, for natural gas produced in the area and sold in intrastate commerce.

Provides that no producer may charge and no purchaser may pay a price for the first sale of new natural gas occurring after September 8, 1975, which price exceeds the applicable area ceiling price established by the Commission.

Requires new natural gas produced from lands located on the Outer Continental Shelf be sold in interstate commerce.

Stipulates that the Commission shall, by rule, upon petition or upon its own motion prohibit any interruption or curtailment of natural gas supplies, and take such other actions under authority of the Natural Gas Act and this Act as the Commission determines to be necessary and appropriate, to assure to the maximum extent practicable the availability of sufficient quantities of natural gas for use for any essential agricultural, food processing or food packaging purposes as determined by the Secretary of Agriculture, for which natural gas is necessary, as determined by the Secretary of Agriculture.

Directs the Administrator of the Federal Energy Administration to, by rule, prohibit any powerplant from burning natural gas if he determines that: (1) such powerplant had, on September 1, 1975 (or at any time thereafter), the capability and necessary plant equipment to burn petroleum products; (2) the burning of petroleum products by such plant in lieu of natural gas is practicable; (3) petroleum products will be available during the period the order is in effect; and (4) natural gas made available as the result of such prohibiton could be available, directly or indirectly, to a priority interstate purchaser.

Requires the Administrator to prohibit the use of natural gas by any powerplant if the Administrator determines: (1) that alternative supplies of electric power are available to the electric power system of which such powerplant is a part; (2) that the generation of such alternative supply of electric power will not result in an overall increase in consumption of natural gas; and (3) natural gas made available as the result of such prohibiton could be made available, directly or indirectly, to a priority interstate purchaser.

Authorizes the Commission to direct any pipline to establish a physical interconnection between any specified facility of any other such pipeline. Provides that the Commission shall apportion equitably the costs of any such interconnection to the pipeline, to priority interstate purchasers initially benefiting therefrom, or to both.

Sets forth penalties for violation of this Act.