Capacity and Demand Forecasts Clause Samples

Capacity and Demand Forecasts. (a) Not later than 6 Months prior to the start of each Contract Year (or 31 October 2011 in the case of the first Contract Year), each Buyer must provide a non-binding, best estimate of its forecast of the quantity of Gas that Buyer is required to make available to its customers under all Concession GSPAs on each Day during the period of 12 Months commencing at the start of that Contract Year. (b) No later than 3 Months prior to the start of each Contract Year (or 20 Days in the case of the first Contract Year) the Parties must meet to discuss: (i) the Seller’s Maintenance requirements and any known scheduled Days during which the Seller plans to take Planned Maintenance Allowance in that Contract Year; (ii) the Buyer’s Maintenance requirements and any known scheduled Days during which the Buyer plans to perform planned Maintenance in that Contract Year; (iii) the quantities of Gas the Seller is capable of Making Available under this Agreement from the Gas Field; (iv) optimising operational efficiencies with respect to the Gas Field and the Mereenie Valley Gas Field; and (v) the Buyer’s long term supply and demand forecasts. (c) Not later than 2 Months prior to the start of each Contract Year (or 10 Days in the case of the first Contract Year), the Seller must, based on the information provided by each Buyer in accordance with clause 8.2(a) and exchanged during the meeting pursuant to clause 8.2(b), provide: (i) a binding, best estimate of its forecast of the quantity of Gas the Seller will Make Available under this Agreement to the Buyers from the Gas Field in each Day during that Contract Year (and the sum of such quantities for that Contract Year must not exceed the ACQ for that Contract Year but may be less than the ACQ for that Contract Year); and (ii) a non-binding, best estimate of its forecast of the quantity of Gas the Seller is capable of Making Available under this Agreement to the Buyers from the Gas Field in each Day during the period of 24 Months commencing at the end of that Contract Year. (d) Not later than 2 Months prior to the start of each Quarter (other than the first Quarter of a Contract Year), the Seller may amend its binding, best estimate of its forecast of the quantity of Gas the Seller will Make Available under this Agreement to the Buyers from the Gas Field on each Day during that Quarter and the remainder of that Contract Year. (e) In relation to the first Contract Year of the Recovery Period only, the Seller may, not later tha...