negotiating access rights in multi-user terminal agreements
DESCRIPTION
Contract Risk Management for the LNG Supply ChainTRANSCRIPT
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Negotiating access rights in Multi-User terminal agreements
Rudolf Huber
Head of Business Development, EconGas GmbH
London, 27 January 2009
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2
Death of the milk run
No stable supply lines
Distribution of risk
Optionality vs. Baseload
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3
Wishful thinking
The baseload pipedream
Needs monopoly downstream
Mocks flexibility
Commercial common sense
The world has moved
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4
What terminal type for you?
Trading option
Security of supply
Market sinks
Integrated terminal
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5
The parties (remake)
True Multiparty
No cross subsidies
Risk reward balance
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6
More (and more complex) contracts
No agreements for the cabinet
Parties have interests to defend
Must survive the reality test
Must be gaming proof
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7
Apples to apples
Established vs. Greenfield
Big vs. small
Longterm vs. shortterm
TPA exemption needed or not
Umbrella principle
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8
Education of regulators
World of theory
Civil service mind
What risks?
No real market
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9
Intershipper coordination
Necessary?
Operators role (vs. Agent)
Relationship with TUA
Enforcement
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10
COM – neutral or not?
Standards improve
Should not change the TUA
Grey areas in TUA
Who determines the content?
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11
Change in style
Holistic strategy
Risk and reward balance reinstated
Emanates from corporate strategy
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12
► EconGas GmbH
ARES Tower, Donau-City-Strasse 11, 1220 Vienna, Austria
www.econgas.com