LNG SPA definition

LNG SPA means a contract for the sale and purchase of LNG between a third party and Customer or an Affiliate of Customer for the loading and/or discharge of LNG on or from the Vessel (as the case may be).

LNG SPA has the meaning given in Schedule A of the CSAA.

LNG SPA means each agreement for the supply of LNG that is to be delivered to the FSRU.

Examples of LNG SPA in a sentence

• Tomorrows markets will also look different with a constantly changing supply and demand balance.As parties to an LNG SPA know that changes will take place and that the original price cannot be main- tained over the entire duration of the contract, they include mechanisms to take this into consideration and to provide opportunities to alter the contract price.

• The author and the expert group supporting the work believe that this model clause will meet the antitrust requirements for diversion clauses in EU and Japan and may be used by parties to an LNG SPA.

• In both cases, this solution seems to require that the LNG SPA includes a sufficient- ly broad arbitration clause providing that any dispute arising out of or in relation to the contract be resolved by arbitration, thus making it possible to invoke the arbitration clause.

• An example of a more recent price review clause is the clause used in the Long-term LNG SPA between Qatar Liquefied Gas Company Limited (2) and Pakistan State Oil Company Limited (dated 8 February 2016): 15.2 Contract Price Review 15.2.1 A Party may give a notice (“Price Review Notice”) to the other Party to renegotiate the Contract Price no earlier than [redacted].

• In Europe, this has resulted in a wave of gas price arbitrations.Consider a situation where a buyer entered into a long-term LNG SPA (of a duration, let us say, of 25 years) at the end of the 1990s at a price that was seen as acceptable at that time.

More Definitions of LNG SPA

LNG SPA means each of the following LNG sale and purchase agreements entered into by Project Company as seller of LNG: (a) the BG SPA, (b) the GN SPA, (c) the Kogas SPA, and (d) the GAIL SPA.

LNG SPA means that certain LNG Sales and Purchase Agreement, by and between Rio Grande LNG, LLC and TotalEnergies Gas & Power North America, Inc.

LNG SPA means the LNG Purchase and Sale Agreement dated November 10, 2016, entered into between the LNG Supplier and the Issuer, as amended by the agreement dated July 27, 2017 and the First Amendment dated March 22, 2018.

LNG SPA means the LNG Sale and Purchase Agreement to be entered into as of the Phase 1 Project FID Date pursuant to Section 4.1 by and between Driftwood LNG, as seller, and the Partner (or its Affiliate), as buyer, the form of which is attached hereto as Exhibit C, as the same may be amended or restated from time to time.

LNG SPA means each LNG Sale and Purchase Agreement by and between a Limited Partner or its Affiliate (or their respective transferees) and Driftwood LNG, as the same may be amended or restated from time to time.

LNG SPA means each of the following LNG sale and purchase agreements entered into by Project Company as seller of LNG: (a) the BG SPA, (b) the GN SPA, (c) the Kogas SPA, and (d) the GAIL SPA. “Loss” means any losses, liabilities, costs, expenses, claims, proceedings, actions, demands, obligations, deficiencies, lawsuits, judgments, awards, or damages. “Manager” has the meaning given in the preamble hereto. “Manager Event of Default” has the meaning given in Section 7.1. “Manager Fee” has the meaning given in Section 6.2. “Monthly Expenditures” has the meaning given in Section 6.4. 4 “Natural Gas” means any mixture of hydrocarbons and other gases consisting primarily of methane which at a temperature of sixty degrees Fahrenheit (60°F) and at an absolute pressure of 1.01325 bar is predominately in the gaseous state. “O&M Agreement” has the meaning given in the recitals hereto. “Operating Year” means each calendar year during the term of this Agreement; provided that the first Operating Year shall commence on the Effective Date. “Operator” has the meaning given in the recitals hereto. “Parties” and “Party” have the meaning given in the preamble hereto. “Person” means any individual, sole proprietorship, corporation, trust, company, voluntary association, partnership, joint venture, limited liability company, unincorporated organization, institution, governmental authority or any other legal entity. “Pre-Completion Fee” has the meaning given in Section 6.1. “Project Company” has the meaning given in the preamble hereto. “Project Company Action” has the meaning given in Section 5.3. “Project Company Event of Default” has the meaning given in Section 7.2. “Project Contract” means any agreement related to the development, financing, construction, operation, and maintenance of the Facility to which the Project Company is a party other than this Agreement. “Risk Management Policy” means the risk management policy for the Project Company as adopted and approved by the GP Board. “Service Providers” means the Operator and each other Person hired by the Project Company, or by the Manager on behalf of the Project Company, to perform services for the Project Company, including, without limitation, Subcontractors and other providers of maintenance, repair and warranty services, certified public accountants, tax return preparers, law firms, engineering firms, and other professional advisors and consultants. “Services” means managing all of the operations and business of the Projec...

LNG SPA means any agreement or term sheet for the sale and purchase of LNG produced using Feed Gas produced from the Unit Area.