This practical new edition contains contributions from leading international arbitration practitioners and arbitrators in the field, in-house counsel and industry experts and covers the various stages of a gas pricing dispute, from drafting the clause to triggering a review, all the way through the various stages of the arbitral process.

Price review disputes have become an increasingly prominent feature in gas and LNG markets over the past decade. While the first wave of disputes were driven by the ‘triple whammy’ of recession, US shale gas and the liberalisation of the gas markets in Europe, further waves have followed with the development of increasingly liquid trading hubs across Europe, ongoing volatility in commodity prices and the continuing influx of liquefied natural gas (LNG) into Europe. And the trends previously seen in Europe are starting to be replicated in Asian markets.This practical second edition will cover the various aspects of international gas pricing disputes. It contains contributions from leading international arbitration practitioners and arbitrators in the field, in-house counsel and industry experts. It covers the various stages of a gas pricing dispute, from drafting the clause to triggering a review, all the way through the various stages of the arbitral process. It also builds on the first edition by containing insights into more substantive topics such as hub indexation, the impact on pricing of non-price terms like destination flexibility, and the differences between gas and LNG price reviews.Despite the large number of high-value disputes in this area, this is one of the very few publications to draw together the various strands of gas pricing disputes into one book. It is therefore an invaluable guide for practitioners, in-house counsel and anyone else with an interest in this area.

Drafting an effective price review clause 5Mark Levy QCAllen & Overy LLPThe trigger phase 19Marnix LeijtenMartje Verhoeven-de Vries LentschDe Brauw Blackstone Westbroek NVChanges of circumstances as a price modifier 37Michael PolkinghorneWhite & Case LLPProcedural issues in gas price review arbitrations 75Oliver BrownePhilip Clifford QCLatham & WatkinsEvidence in gas pricing arbitration 87Augustin BarrierNoradèle RadjaiLALIVEConfidentiality in gas price reviews 103Philippe PinsolleQuinn Emanuel Urquhart & Sullivan LLPThe arbitrator’s role 121Rahul DondeLaurent LévyLévy Kaufmann-KohlerThe client’s perspective 133Nikolas HübschenUniper Global Commodities SEExpert evidence in price reviews and disputes 147Christopher J GoncalvesAnthony J MellingBerkeley Research Group LLCThe adjustment phase in gas price reviews under longterm gas supply contracts 169Michelle Glassman BockSteven FinizioWilmer Cutler Pickering Hale and Dorr LLPNatural gas price review arbitrations: issues in adopting hub indexation 181Luis AgostiBoaz MoselleCompass LexeconThe potential for price disputes in hub-indexed gas contracts 197Valentina BonettiDan HarrisCarlos LapuertaThe Brattle GroupGas price reviews in Asia-Pacific 213David JenawayAllen & OveryCurrent and future trends for price reviews 225James FreemanAllen & Overy LLPAbout the authors 241Index 251