In recent years, many lawyers, experts and industry commentators have written about an anticipated increase in the role and number of LNG price reviews and arbitrations in the Asia Pacific LNG market. At the same time, however, there has been considerable speculation about these cases actually becoming a reality given the limited number of price review provisions within legacy contracts in the region – often none at all – together with the more traditional cultural preference to simply “meet and discuss” these issues, rather than escalate them to arbitration. That has been the historical view. As we shift our focus to the present day, the advocates of this forecasted change can be complimented for their foresight.
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