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


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

> any contract, entered into on or after November 9, 1978, for the first sale of natural gas which was not previously subject to an existing contract

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

