Gas and LNG Sales and Transportation Agreements

A practical and comprehensive guide to the law and practice of structuring projects for the sale and transportation of gas and LNG, based on the author's own comprehensive experience. The discussion is augmented by three precedent agreements and a set of further clause examples which demonstrate the practical mechanics of putting the deal together.

• Presents a detailed, hands-on guide to the drafting, negotiation and interpretation of natural gas and LNG trading, shipping and transportation contracts
• Contains three new chapters on LNG Trading Platforms; MSA Terms; and Sales Contracts for Unconventional Gas
• Highlights the legal and commercial issues involved at each stage and advises how they should be handled in practice
• Offers clause-by-clause commentary on the typical provisions within gas and LNG, sales, shipping and transportation agreements
• Pinpoints the key issues and suggests solutions to problems that can arise
• Discusses the nature of gas and LNG and the contracting process
• Explains in detail the common components of contracts, including quality and pressure, liabilities and limitations, force majeure and dispute resolution
• Provides discussion on the commercialisation of natural gas in light of concerns about climate change, cleaner energy sources and the security of energy supplies
• Includes expertly drafted precedent agreements
• Covers price reviews and reopeners
• Written from the perspective of English law but in the light of international experience and practice

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PART A – General Principles

• 1 THE NATURE OF GAS
• 2 PROJECT STRUCTURES
• 3 GAS STORAGE
• 4 UNCONVENTIONAL GAS SALES
• 5 THE CONTRACTING PROCESS
• 6 CONTRACT FORMS
• 7 COMPETITION LAW PRINCIPLES
• 8 GAS IN THE ENERGY TRANSITION

PART B – Sales Contract Terms

• 9 THE PARTIES
• 10 THE TERM
• 11 THE DELIVERY POINT AND DELIVERY
• 12 QUANTITIES, RATES AND RESERVES
• 13 PRICE
• 14 PRICE REVIEW MECHANISMS
• 15 COLLATERAL SUPPORT
• 16 TAKE AND PAY, TAKE OR PAY
• 17 MAKE UP AND CARRY FORWARD
• 18 NOMINATIONS, UNDERTAKE AND OVERTAKE
• 19 THE SELLER’S DELIVERY FAILURE
• 20 INVOICING AND PAYMENT
• 21 GAS QUALITY SPECIFICATION
• 22 MEASUREMENT
• 23 FACILITIES AND COMMISSIONING
• 24 MAINTENANCE

Part C – Pipeline Gas Transportation

• 25 PIPELINE PROJECT STRUCTURES AND PRINCIPLES
• 26 GAS TRANSPORTATION TERMS
• 27 COMMINGLING, ALLOCATION AND ATTRIBUTION
• 28 QUANTITY AND CAPACITY CONSTRUCTIONS
• 29 TARIFF, CAPACITY PAYMENTS AND SHIP OR PAY

Part D – LNG Sales and Transportation

• 30 UNDERSTANDING LNG
• 31 LNG PROJECT STRUCTURES AND PRINCIPLES
• 32 LNG SALES CONTRACT CONTENT
• 33 LNG SHIPPING ISSUES
• 34 CHARTER PARTY AGREEMENTS

Part E - Common Components

• 35 FORCE MAJEURE
• 36 LIABILITY AND LIMITATION
• 37 THIRD PARTY INVOLVEMENT
• 38 TRANSFERS
• 39 TERMINATION
• 40 DISPUTE RESOLUTION
• 41 OTHER PROVISIONS

Appendix A – proforma memoranda of understanding and termsheets (gas sale and purchase, gas transportation, LNG sale and purchase)
Appendix B – proforma gas sales agreement
Appendix C – proforma gas transportation agreement
Appendix D – additional provisions

CLEAR. CLEVER. CONCISE

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