What Industry Practises are Internationally Recognised in Relation to Contract Clauses?

July 6, 2017 11:00am

Richard Dinnie
Legal Affairs & Agreements Division (Exploration Production), Vice President Gas
Total S.A.

Mark Levy
Allen & Overy

Veijo Heiskanen

  • Dealing with the impact Res Judicata in price revision disputes
  • Factors to consider in order to apply a “Take or Pay” Clause.
  • Force majeure clauses.
  • Issues arising from take or pay clauses that are backing up the LTG:
    • Problems arising when too much capacity is contracted and it needs to be optimised.
    • Understanding how much capacity to re-contract by 2019-2022
    • Implications on the increase of cost of capacity.
  • Hardship model clauses: are they applicable for re-negotiation of a contract under the current economic climate?
  • Destination clauses
    • Do destination clauses no longer work for producers due to reloading?
  • How is a revision of the contract price limited in case of a hardship clause?
  • Different clauses to be considered when negotiating a contract:
  • How do caps on production affect the terms of the contracts?
  • After years negotiating and re-negotiating LTG, is there a lex mercatoria emerging as an aid of interpretation to all Long Term Gas contracts?
  • The implications of the long-term nature of LTCGs for their interpretation and application