Lng Long Term Contracts
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New Types of Pricing Structures for Long Term LNG Contracts
Historically, LNG was sold on the basis of long term contracts with rigid conditions for buyers. The liberalization in the US, Canada, the UK and partly in the European Union as well as the increased LNG capacity and infrastructure led to the creation of a spot market, which co-existed next to the long term contracts. In 2008, however, the decreased demand in combination with the sudden breakthrough of the commercial exploration of unconventional shale gas in the US led to a radical change: Spot prices collapsed and decoupled from the oil-indexed prices in long term contracts, leading to massive pressure on historical long term contracts. This paper analyses the current environment in the LNG industry and describes new elements for long term contracts that allow coping with the advantages of the spot market (flexibility) while at the same time offering the upsides of long term contracts (low volatility and risk-sharing). A design is described which allows to include optional volumes into the contracts, managing the problems of risk-sharing by introducing a neutral option-trigger, flexible delivery conditions as well as moderating price mechanisms.
The Pricing of Internationally Traded Gas
Author: Jonathan Stern
language: en
Publisher: Oxford Institute for Energy Studies
Release Date: 2012-11-08
A volume on the pricing of gas in international trade. Gas accounts for around 25% of global energy demand and international gas trade is growing rapidly. The book covers the development of international gas pricing in all regions of the world where gas is traded, and considers whether gas could become a global market.
Research Handbook on Oil and Gas Law
Author: Tina Soliman Hunter
language: en
Publisher: Edward Elgar Publishing
Release Date: 2023-01-17
What does the future hold for oil and gas, what can we learn from the past and what role does law have to play in this? Using a unique temporal lens, this Research Handbook examines core themes in oil and gas regulation from historical, contemporary and forward-looking perspectives.