News & Analysis as of

Take-or-Pay Contracts

The Japan Fair Trade Commission Has Said No to LNG Resale Restrictions—What Does This Mean for Japanese and Non-Japanese LNG...

In June 2017, the Japan Fair Trade Commission (JFTC) issued its conclusion on an earlier market study on liquefied natural gas (LNG) resale restrictions and cautioned that (i) destination clauses, (ii) diversion clauses,...more

JFTC questions the validity of destination clauses in LNG SPAs

by White & Case LLP on

On 28 June 2017, the Japan Fair Trade Commission ("JFTC") issued a report regarding its "Survey on LNG Trades" based on questionnaires and interviews with Japanese and non-Japanese buyers and sellers of LNG (the "Report")....more

The Paris Energy Series No. 7: Take-or-pay Conditions in Gas Supply Agreements (Updated)

by White & Case LLP on

This article was originally published in October 2014 by Michael Polkinghorne and has been amended to reflect additions and subsequent changes to the law. Take-or-pay provisions are now fairly common in long-term offtake...more

Re-examining the Take-or-Pay Obligation in LNG Sale and Purchase Agreements

by King & Spalding on

Since almost the inception of the LNG industry, the “take-or-pay” contract structure has become perhaps the defining characteristic of long-term LNG sale and purchase agreements (SPAs). The benefits of the traditional...more

How Latin American LNG Markets and U.S. Exports are Reshaping the LNG Market

by King & Spalding on

Traditionally, long-term take-or-pay "ToP" LNG sale and purchase agreements ("LNG SPAs") provide the foundation for the development of an LNG export project. These are contracts with terms of 20 years or longer. A buyer under...more

Paris Energy Series No. 7: Take-or-Pay Conditions in Gas Supply Agreements

by White & Case LLP on

Take-or-pay provisions are now fairly common in long-term offtake and supply agreements in the energy sector, a notable example being gas supply agreements. In essence, take-or-pay provisions provide that a buyer must...more

Drafting Lessons From The "Deliver-Or-Pay Wars" Of The Southern Cone

by King & Spalding on

The Rise of Domestic Gas Obligations - The increase of domestic gas ("domgas") obligations imposed by Host States in pipeline gas or LNG export projects has become a trend in the international gas industry. ...more

TRANSACTIONAL: Project Development/Finance: Key Considerations in Energy Take-or-Pay Contracts

by King & Spalding on

Perhaps the most common type of off-take contract in a large scale energy project is the take-or-pay contract. A properly constructed take-or-pay contract provides the seller with an assured revenue stream that ensures an...more

Paris Energy Series No. 7: Take-or-pay Conditions in Gas Supply Agreements

by White & Case LLP on

I. Introduction - Take-or-pay provisions are now fairly common in long-term offtake and supply agreements in the energy sector, a notable example being gas supply agreements. In essence, take-or-pay provisions...more

Energy Newsletter - April 2013

by King & Spalding on

In This Issue: - TRANSACTIONAL: - Project Development/FinanceKey Considerations in Energy Take-or-Pay Contracts - Upstream - Russia and former republics Unconventional Russia - Bankruptcy:...more

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