The Interplay of Force Majeure and Change of Circumstances with Dispute Resolution Clauses in Modern Long-term LNG Contracts - What Role for A Price Review Clause?
Article from: OGEL 4 (2017), in Liquefied Natural Gas (LNG)
Summary
This following article introduces the recent developments in the global LNG trade, as relating in particular, to the structure of long-term LNG supply contracts and price formation in different geographic regions. After outlining the most salient clauses of a long-term LNG supply contract, the authors provide an analysis of several ways by which parties to such contracts anticipate and confront some of the risks associated with contracts for the sale and purchase of LNG, based on the price review clause mechanisms and contractual and statutory concepts of force majeure/change ...