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Expert Analysis

LNG Disputes Under Sale And Purchase Agreements: Part 2

Law360, New York ( October 28, 2015, 10:54 AM EDT) -- This second article in our series on liquefied natural gas disputes focuses on the take-or-pay clause. Take-or-pay conditions, whereby the buyer pays the supplier for specified quantities of LNG irrespective of the buyer's needs, continue to be standard in long-term sale and purchase agreements and are a frequent subject of dispute. Under traditional SPAs, the seller procures feed gas, converts it to LNG and sells the LNG to its purchasers. The typical take-or-pay clause gives a purchaser the choice to take and pay for the LNG it has contracted for or to decline the LNG and pay a fixed charge with the right to take the LNG at a later time....

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