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Course Code: OGC-121
239 Course Visits
LNG Contracts and Price Negotiation
Course Sector:
Oil, Gas and Chemical
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Introduction
Training course introducion / brief
The oil and gas industry involving the trading of pipeline gas and LNG has rapidly grown as a result of demand and deregulation, bringing tremendous business opportunities for all the stakeholders including government entities, producers, sellers, transporters and buyers etc. The unpredicted risks, various commercial terms, volatile prices, cultural differences and many other factors have made contract negotiation, dispute resolution and risk management more and more challenging.
This training course is designed to help participants particularly those who are related to LNG contract implementation and negotiation, gain an in-depth insight of the Buyers and Sellers view and negotiate Gas and LNG Sales Agreements, as well as the terms that are important in these transactions.
Course Objectives
At the end of the training course, participants will be able to
At the end of the training course, participants will be able to:
- Understanding common contractual pitfalls in LNG contracts
- Negotiate profitably LNG contracts, with clear understanding of insurance provisions, liability and indemnity clauses
- Enhance your ability to draft and negotiate LNG force majeure clauses
- Assess and manage risks as relevant to LNG contracts
- Grasp and apply dispute resolution methods to LNG contracts
Course Audience
Who is this course for, and can benefit the most
This training course is beneficial for professionals who are involve in contract negotiations and all those who need an understanding of the
principles of gas contracts, including issues such as price terms and the
allocation of risk.
Course Outline
The course aims and learning outcomes
- Dynamic of Downstream, Midstream, Upstream & Contract Law
- Introduction to LNG & Sales Contracts
- Training objectives
- key terms and definition
- The main international industry players
- Introduction to specific LNG and Sales agreements
- Legal System and Contract Law
- Mandatory elements of a legally enforceable
- contract
- Contract Law: Contract formation
- Contract Law: Contract terms
- Contract Law: Interpretation of contract terms
- Contract Law: Remedies for breach of contract
- Assessing available remedies for breach of contract
- Rescission
- Compensatory damages
- Consequential and incidental damages
- Liquidated damages
- Specific performance
- Injunctive Relief
- The Essence of the LNG Sales Contracts
- Characteristics of LNG sales contracts
- The contractual process
- Commercial realities
- Drafts and drafting
- Enforcement
- Fundamental legal principles
- Cultural and language issues
- Fundamental Legal Principles
- LNG Sales Contracts
- What is LNG?
- The LNG Industry
- LNG Value Chain
- LNG Sales, and LNG sale and Purchase Agreements
- Financing of LNG Projects
- Current Issues in LNG
- Transportation Agreements
- The contractual arrangements put in place forgetting petroleum from the wellhead to the market place
- Off taking and transporting Oil & Gas (pipeline or ship)
- Typical terms of a Gas Pipeline Transportation and Processing Agreement (TPA)
- Transportation (or Transhipment) of crude oil and Liquefied Natural Gas (LNG) or Gas to Liquids (GTL)
- International practices and model contracts
- Gas Sale & Purchase Agreements
- Types of Gas Sales Agreements
- Parties
- Term and Effectiveness: Duration and delayed start date provisions
- Sale, Purchase and Delivery
- Gas Reserves
- How to express gas quantities in pipeline gas contracts
- Take-or-pay, Carry Forward and Make Up
- Current practice on shortfall penalties
- Quality
- Price
- Nominations, Undertake, and Overtake
- Measurement and Testing
- Invoicing and Payment
- Force-Majeure in gas sales contracts; the differences between pipeline gas and LNG
- Termination
- Tax
- Force Majeure Clauses
- Understand the purpose and risks this clause is intended to mitigate
- Avoiding common Force Majeure pitfalls
- Protect yourself from abuse and misuse of this clause
- Mechanics of exercising Force Majeure rights
- Practical Exercise: Case studies
- Insurance Provisions
- Overview of coverage types
- Understanding typical insurance exclusions
- Assessing the quality of your insurance carrier
- Evaluating deductibles and coverage limits
- Insurance subordination issues
- Effective claims management
- Contract Management
- Operational issues
- Gas delivery procedures and coordination between suppliers, terminal operator, transporters and users
- Types of dispute resolution vehicles
- Importance of the dispute resolution clause
- Contract Claims & Dispute Resolutions
- Types and Assessment of Claims
- Tiered Dispute Resolution Mechanisms
- Formal Dispute Resolution
- Preventing costly litigation through effective use of ADR option
- Types of dispute resolution vehicles
- Assessing litigation vs. arbitration options
- Mediation considerations
- Considerations for selecting effective mediators and Arbitrators
- Selecting arbitration and mediation rules of procedure
- Drafting effective dispute resolution clause
- Practical Exercise: Mock arbitration exercise
- Contract Close Out
- Contract Review, Evaluation, Lessons Learned
Providers and Associations
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Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
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Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
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Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
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