### Question
Can you define what existing contract means?


### Answer
**Existing contract** is defined as the following in *15 U.S.C. § 3301*:

> any contract for the first sale of natural gas in effect on November 8, 1978

#### Citation:
  - *15 U.S.C. § 3301*
  - Heading: **CHAPTER 60-NATURAL GAS POLICY**

