Bp Lng Master Agreement
12 septembre 2021
BP, which has a global LNG portfolio consisting of quantities it has produced or purchased, said on its website that it expected the release of its LNG-Master-and-Purchase Agreement (MSPA) models « to contribute to a broader debate on standardization and liquidity for LNG transactions. » An MSPA is a complex framework agreement between two counterparties that sets out the terms and conditions of their LNG operations. Unlike oil markets, where standardized terms and conditions such as BP`s provide a framework for traders to refer to, companies in LNG markets typically design separate contracts for each activity. SINGAPORE (Reuters) – Global oil and gas group BP has released its master`s models for selling and selling its liquefied natural gas (LNG) trading business and says it is the first of its competitors to do so. Over time, the BP DES and FOB LNG MSA have also been refined to reflect current industry standards. As with the general conditions of sale and purchase of crude oil and petroleum products (GTC), BP DES and FOB LNG MSA will evolve with developments in the LNG sector. LexisNexis® is now the exclusive online distributor of the extensive collection of current and archived versions of ALM`s legal information publications. LexisNexis® customers can access and use ALM content by subscribing to LexisNexis services® through Lexis Advance®. These include content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel® as well as other ALM newspapers, directories, legal treaties, published and unpublished court reports and other sources of legal information. « In particular, if other sellers and portfolio dealers follow this example, it could be useful to encourage debate on how parties can improve efficiency in order to respond to the faster pace at which the spot LNG market has been evolving in recent times and greater liquidity, » she said. For any questions, call 1-877-256-2472 or contact us at partner [email protected] Charles « Chuck » Gibbs indicated « an obligation of McDermott to build a restructuring practice of superior quality and depth. » Companies need to create multiple MSAPs before making a real trade and spending time, money, and resources in a process that can range from minutes to weeks or more. In response to this boom in LNG trade in the short term, several players in the sector have published sample forms to facilitate transactions. Four of these models, usually called Master Sale and Purchase Agreements, were particularly influential. These include a model published by GIIGNL; Trafigura, a large Singaporean trading house; BP, a large oil company; and appointing authority, an organization of international negotiators.
Each model has its strengths and weaknesses that a practitioner should take into consideration. Our standards: Thomson Reuters Trust Principles. Read the article online at: www.lngindustry.com/liquid-natural-gas/14082019/bp-publishes-lng-transaction-template/ Since the third quarter of last year, offers, offers and trades reported to the S&P Global Platts pricing agency as part of their pricing process « have become significantly more consistent with the terms used, » said Ciaran Roe, general manager of the company`s LNG division. . . .