left-caret
Insights

client alerts

Gas Natural Aprovisionamientos,SDG, S.A. v. Atlantic LNG Company of Trinidad and Tobago and Price Reopener Clauses in an Uncertain Environment for LNG Pricing

March 02, 2009

By Christian Petersen

The seller of LNG in the recent case of Gas Natural Aprovisionamientos, SDG, S.A. v. Atlantic LNG Company of Trinidad and Tobago in the United States District Court for the Southern District of New York (2008 WL 4344525 (S.D.N.Y.)) objected to the LNG price formula imposed by the arbitration panel in a dispute involving the application of a price reopener clause in a long-term LNG sale and purchase agreement. The Court upheld the LNG price formula imposed by the arbitration panel pursuant to the price reopener clause.