Contracts for the sale of LNG also, as a rule, include obligations related to the force majeure event that the parties wish to keep in mind. This may include:6 The availability of force majeure remedies depends on the specific wording of the agreement and the applicable law of that agreement1. The rise of liquefied natural gas (LNG) in the United States, Australia and Qatar has usered a new era of short-term supply contracts for the natural gas industry. The International Group of LNG Importers (GIIGNL) reported that 30 percent of LNG purchases are now considered short-term. In response to this boom in LNG trade in the short term, several players in the sector have published sample forms to facilitate transactions. Four of these models, usually called Master Sale and Purchase Agreements, were particularly influential. These include a model published by GIIGNL; Trafigura, a large Singaporean trading house; BP, a large oil company; and appointing authority, an organization of international negotiators. Each model has its strengths and weaknesses that a practitioner should take into consideration. As companies prepare to work, they are adding lawyers with different experience in the energy industry, like Paul Hastings, who recently hired two Baker Botts partners in San Francisco. For more information, please visit the White & Case Coronavirus Resource Center.
LexisNexis® is now the exclusive online distributor of the extensive collection of current and archived versions of ALM`s legal information publications. LexisNexis® customers can access and use ALM content by subscribing to LexisNexis services® through Lexis Advance®. These include content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel® as well as other ALM newspapers, directories, legal treaties, published and unpublished court reports and other sources of legal information. ALM content plays an important role in your work and research, and now through this LexisNexis alliance® give you access to an even more comprehensive collection of legal content. This publication serves your convenience and does not provide legal advice. This publication is protected by copyright. © 2020 White & Case LLP 1 This article focuses on agreements for the sale and purchase of LNG subject to English or New York law. 2 Cf. z.B. Clause 12 of the GIIGNL Master Ex-Ship LNG Sales Agreement of 2011, Article 13 of the Appointing Authority Model Contract Master LNG Sale and Purchase Agreement of 2012 and Clause 15 of the Standard Model MSA (DES) 2019 Edition.
3 See z.B. Clause 12(2)(b) of the GIIGNL Master Ex-Ship LNG Sales Agreement 2011, Article 22.214.171.124(a) of the Appointing Authority Model Contract Master LNG Sale and Purchase Agreement 2012 and Clause 15.1(a) of the BP Standard Form MSA (DES) 2019 Edition. 4 See, for example.B. Clause 126.96.36.199(a) of the standard contract for the 2012 LNG sales contract. 5 See, for example.B. Clause 188.8.131.52(b) of the standard contract of the 2012 LNG sales contract. 6 Cf. z.B. Clauses 12 (3) and 12 (4) of the GIIGNL Master Ex-Ship LNG Sales Agreement of 2011, clause 13.2 of the appointing authority Model Contract Master LNG Sale and Purchase Agreement of 2012 and clauses 15.6 and 15.7 of BP Standard Form MSA (DES) 2019 Edition…
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