Course Objectives:

To understand the legal and contractual architecture underpinning gas trading.

To analyze key gas trading agreements and risk allocation mechanisms.

To explore pricing structures, delivery obligations, and dispute resolution processes.

To address current challenges in cross-border gas trade, especially LNG and pipeline gas.

 Key Topics Covered:

1.Introduction to Gas Markets & Trading

Overview of natural gas value chain: upstream, midstream, downstream

2.Role of physical vs. financial gas trading

Global trends in LNG and pipeline gas trade

3.Types of Gas Contracts

Long-Term Sales and Purchase Agreements (SPAs)

Short-Term & Spot Gas Trading Contracts

4.Gas Transportation Agreements (GTAs)

Gas Storage and Balancing Contracts

Hub-based Trading Contracts (e.g., Henry Hub, TTF, NBP)

5.Key Contractual Clauses

Quantity & Take-or-Pay obligations

Delivery points & Title transfer

Force Majeure

6.Price review and reopener clauses

Termination rights and penalties

7.Pricing Mechanisms

Oil-indexed pricing vs. gas-on-gas competition

Hub-based pricing (TTF, Henry Hub, JKM)

Indexation formulas and escalation clauses

Spot market influences

8.Risk Allocation & Legal Considerations

Legal frameworks across jurisdictions

Contractual risk allocation (e.g., volume, price, transportation)

Sovereign risk and regulatory changes

Dispute resolution: litigation, arbitration (ICC, UNCITRAL), expert determination

9.Case Studies & Practical Exercises

Review of sample Gas Supply Agreements

Real-world disputes and resolutions

10.Pricing formula negotiations

Simulated contract negotiation role-play

Learning Outcomes:

By the end of this course, participants will be able to:

Draft and analyze gas trading contracts with improved confidence

Understand key risks and mitigation strategies

Apply pricing models relevant to current gas markets

Navigate legal disputes and contract enforcement

Target Audience:

Legal advisors and in-house counsel in the energy sector

Commercial and contracts managers

Energy traders and analysts

Policy makers and regulators

Engineers and project managers involved in gas value chain operations