### Question
How does NATURAL GAS POLICY define existing contract?


### Answer
Under *15 U.S.C. § 3301*, **existing contract** is defined as:

> 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**

