Weathering Hardships and Disputes in Long-Term Gas Contracts

    View Authors May 2016

    Changed circumstances, such as the present fall in oil prices, can cause financial problems, leading to disputes and arbitration between vendor and client. Even when price review provisions are included, they generally only permit a renegotiation and review of the price payable under the contract. Given this limitation, it is often necessary to look beyond contractual price review provisions and consider other ways that the terms of long-term contracts might be adjusted to take account of changed circumstances that cause economic hardship.

    The article was originally published in The Edge magazine, May 2016, and is reprinted with permission.