A bill to create competitive conditions in natural gas pricing by prohibiting certain anticompetitive clauses in natural gas contracts.

[AI summary unavailable — showing source text] Amends the Natural Gas Policy Act of 1978 to declare against public policy and unenforceable any provision of any contract for the first sale of natural gas which includes: (1) a take-or-pay clause which commits the purchaser to take delivery of a minimum volume of natural gas for a period of more than one year; or (2) an indefinite price escalator clause. Excludes from the above any contract with a take-or-pay clause for the first sale of natural gas committed or dedicated to interstate commerce on November 8, 1978, and for which a just and reasonable rate under the Natural Gas Act was in effect on such date.…