Natural Gas Contract Renegotiation Act of 1988

[AI summary unavailable — showing source text] Natural Gas Contract Renegotiation Act of 1988 - Requires the parties to certain natural gas purchase contracts to renegotiate such contracts to provide for a price level acceptable to both of them if the purchaser gives written notice to the producer that renegotiation is desired because the contracted sales price exceeds the current ceiling price allowable under the Natural Gas Policy Act of 1978. Provides for termination of such a contract if its amendment under this Act is not executed within 90 days after the producer receives such notice (or after any other agreed upon date).…