Natural Gas Act Amendments

[AI summary unavailable — showing source text] Natural Gas Act Amendments - Amends the Natural Gas Act to terminate Federal Power Commission authority to regulate sales of new natural gas in interstate commerce. Stipulates that emergency sales of natural gas to curtailed customers who qualify as essential users shall not affect such exempt status. Stipulates that contractual provisions prohibiting sales to such customers shall be suspended and unenforceable for the duration of such emergency sale. Stipulates that prices for offshore sales of new natural gas shall not exceed the ceiling price for sales of new natural gas produced from offshore Federal lands. Stipulates that prices paid for natural gas in transactions between a natural gas company and its affiliates shall not exceed prices paid in comparable sales by persons not affiliated with any natural gas company. Directs the Federal Power Commission to conduct studies and make reports regarding the nature and availability of natural gas reserves. Requires that the Commission keep current information available relating to the estimated natural gas reserves for individual fields. Establishes procedures for the establishment of ceiling prices for new natural gas produced from …