Oxford Energy Podcast – Scenarios for Asian long-term contracts before and after COVID-19 [GGP]
The paper argues that recent market events have delivered multiple incentives for price reviews and exposed three key needs for changes to Asian LNG SPAs: (1) to abandon oil-linked pricing, (2) to increase operational flexibility, and (3) to re-examine contract adjustment mechanisms. Looking into the future, the paper submits the idea of comprehensive contract renegotiations and concludes that a transition driven by contract reviews executed by the parties, gradually recalibrating the key contractual arrangements, would be an optimal scenario for Asian LNG SPAs in the 2020s.
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