Inventory Level. The Shipper's Inventory Variation for a given Day is defined as the difference between, on the one hand: o the Unloaded Quantity on this Day; o the Quantity of LNG Inventory Transfer received on this Day; o the quantity of energy withdrawn from the Dedicated Storage Space on this Day; and, on the other: o the Daily Send-Out on this Day; o the gas flared by the Operator in the situations specified in Article 32.2 and during unloading in the situations specified in Article 7.3; o the quantity of energy delivered on this Day, whether as part of an LNG Inventory Transfer or any other operation; o the quantity of energy injected on this Day into the Dedicated Storage Space; o Gas Offtake from the Unloaded Quantities for this Day; o the Reloaded Quantity on this Day. Inventory Variation may be positive or negative. For a given Day, the Inventory Level is a quantity of energy equal to the algebraic sum of the Inventory Level for the previous Day and the Inventory Variation for the Day in question.
Appears in 3 contracts
Sources: Framework Contract for Access to LNG Terminal, Framework Contract for Access to LNG Terminal, Framework Contract for Access to LNG Terminal