BP, which has a global LNG portfolio of quantities produced or purchased, said on its website that it expected the release of its LNG-Master (MSPA) sales and sales (MSPA) models to “contribute to a broader debate on the standardization and liquidity of LNG transactions,” without requiring the parties to commit to buying or selling certain quantities. When the parties wish to carry out transactions, they enter into a complementary “audit notice” that contains the terms and conditions of the framework contract and the specific terms of each transaction, such as contract price, contract quantity and LNG specification, in which Liquefied Natural Gas (LNG) is generally traded as a portfolio product, in which a participant can split several long-term sales contracts into short-term transactions in order to optimize transport costs and balance commitments in market conditions. The LNG industry also has its own spot market, in which cargoes are purchased and sold through competitive tenders and negotiated transactions. Alternatively, swap agreements (for which two buyers or two sellers accept the exchange of cargoes) are another business model that is becoming more common in the LNG industry. Short-term sales contracts – one- to five-year bilateral agreements, often with low flexibility of conditions An MSPA is a complex framework agreement between two counterparties that clarifies the terms and conditions of their LNG agreements. Unlike oil markets, where standardized CTFs such as BP`s provide a framework for traders to refer to in LNG markets, companies generally design separate contracts for each deal. The usual types of LNG sales and purchase are: This practical reference takes into account the nature and scope of arbitration agreements with a particular focus on arbitration agreements under the legislation of England and Wales, although it also discussed the concept of an international perspective and contains some comparative examples of other SINGAPORE (Reuters) – Global Oil-and Gas Enterprise BP has published its model of sale liquefied natural gas (LNG) and says it is the first of its colleagues to do so. Long-term sales contracts – usually for a 20-year term – the long-term LNG sales contract remains the traditional guarantee for financing the LNG capital-intensive value chain. The majority of LNG volumes worldwide are sold under long-term contracts, ALM content plays an important role in your work and research, and now with this LexisNexis alliance® gives you access to an even more complete collection of legal content. BP DES and FOB LNG MSA have also been refined over time to reflect current industry standards. As with BP`s terms and conditions for the sale and purchase of crude oil and petroleum products , BP DES and FOB LNG MSA will evolve with the evolution of the LNG industry.
BP already has a standardized model – known as its Terms and Conditions – for the sale and purchase of crude oil and refined petroleum products, which is also widely used by other companies. LexisNexis® is now an exclusive third-party online distributor for the extensive collection of current and archived versions of ALM`s legal publications. LexisNexis® customers can access and use ALM content by subscribe to LexisNexis® via 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 newspapers, directories, legal proceedings, published and unpublished legal opinions and other sources of legal information.