Minimum LNG Quantity definition

Minimum LNG Quantity means one (1) standard Cargo per Contract Year. For purposes hereof, one (1) Cargo shall be equivalent to no less than 3,200,000 MMBTU.
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Examples of Minimum LNG Quantity in a sentence

  • For purposes hereof, the “Deemed Contract Price” shall be equal to the Minimum LNG Quantity multiplied by the annual average of the monthly closing prices in US$/MMBTU as published by the New York Mercantile Exchange for the ▇▇▇▇▇ Hub Natural Gas futures contract for Natural Gas to be delivered during such period.

  • The LNG Quantity for a Contract Year shall be an amount elected by Seller pursuant to the monthly notices provided under Section 2.2, such amount for a Contract Year to be no less than the Minimum LNG Quantity and no more than seventy eight million four hundred seventy five thousand (78,475,000) MMBTU (or the pro-rata portion of such amount in the event of a partial Contract Year).

  • If for any reason not expressly permitted under this Agreement, other than: (i) Force Majeure; (ii) reasons attributable to Buyer, its Affiliates or their respective agents; or (iii) reasons attributable to Buyer’s Facility, Seller fails to deliver the Minimum LNG Quantity for any year during the Term, then Seller shall be required to pay Buyer an amount equal to the Deemed Contract Price multiplied by twelve (12%) percent, as liquidated damages for such failure to deliver.