The prices, terms and conditions upon which natural gas shall be made available under this act shall be determined by negotiation between the parties. In the event of their inability to agree as to any or all of such prices, terms and conditions, either party to the negotiation may apply to the Corporation Commission to fix the same. In reaching its determination, the Corporation Commission shall consider the necessity of the applicant for the gas for the purposes specified herein, the value of such gas and its components, the efficient operation of the wells of the producer of the gas, the obligations assumed by such producer in the sale or other disposition of such gas, and all other factors relevant to the effectuation of the policy and purposes of this act with justice to all concerned.
Added by Laws 1955, p. 284, § 4.