LNG Price Review: Lessons from Asia

Recorded On: 05/27/2021

Organized by the Asia Chapter

Rob Palmer, Partner, Ashurst LLP
Kerry Anne Shanks, Senior Advisor, Poten & Partners
Chris Rumley, Senior Advisor, Poten & Partners

Moderator: Daniel Reinbott, Partner, Ashurst LLP

Price review clauses have long been a feature of long-term LNG sale and purchase agreements into Asia. Compared with their European counterparts, however, price review clauses in Asian LNG SPAs have been left relatively untested. 

That is now changing. With more and more Asian LNG SPAs entering their pre-agreed price review periods, and traditional attitudes to formal price review processes changing in line with underlying market dynamics, there has been a noticeable spike in price review activity.

This webinar provides an overview of the key LNG market dynamics and contractual features driving price reviews in Asia. In a moderated discussion, the panel shares insights coming out of recent experiences in negotiating price review provisions and advising on LNG price review processes, and will comment on some of the unique features of price reviews processes for sales into the region

Rob Palmer

Partner, Ashurst LLP

Rob Palmer is a Partner in Ashurst's dispute resolution team and Managing Partner of Ashurst's Singapore office. He has a particular focus on dispute resolution in international energy, construction and infrastructure projects.

Rob has been based in Southeast Asia since 2003.  His longstanding presence in – and understanding of - the region, and the repeat mandates he receives from blue-chip clients set him apart from others in the market.  He is consistently praised by clients and in legal directories for his advocacy skills and the quality of his legal advice, including the strategic, commercial way in which it is delivered.

Rob is a Fellow of the Chartered Institute of Arbitrators, the Singapore Institute of Arbitrators and the Australian Centre for International Commercial Arbitration. He is qualified in New Zealand, New South Wales and England; a member of the panel of arbitrators of (among others) the KCAB, the AIAC, the ACICA, the BANI and the TAC; and a member of The Training Faculty of the Chartered Institute of Arbitrators.

Rob is currently advising on various LNG and natural gas price review negotiations and disputes.

Kerry Anne Shanks

Senior Advisor, Poten & Partners

Kerry Anne Shanks is an energy professional with over 15 years of experience gained at Poten, Wood Mackenzie and Shell. A recognized expert on the dynamics of gas and LNG markets.

Chris Rumley

Senior Advisor, Poten & Partners

A trained economist, Chris Rumley has 15 years of experience in commodity forecasting, economic analysis and the LNG market. He is a Japanese speaker, and his primary focus is commercial, market and project development advisory to LNG and natural gas businesses in the Asia Pacific.

Daniel Reinbott (Moderator)

Partner, Ashurst LLP

Daniel Reinbott is an LNG and upstream natural gas partner based in Singapore.  He has extensive experience advising stakeholders across the LNG value chain on the development of greenfield and brownfield LNG projects across the Asia Pacific region. 

Daniel is regarded as one of the few true global experts on long term LNG sale and purchase agreements, having advised on more than 50 long term LNG SPAs over the past 15 years, covering project and portfolio based supply into markets across Asia. He regularly advises on long term piped natural gas sale and purchase agreements, including cross border sales and as feedstock for LNG projects, petrochemicals and power.  Daniel is also at the forefront of advising on the development of LNG regasification projects across the Asia Pacific region and globally. Chambers Asia-Pacific 2020 notes "[Daniel's] LNG project and marketing experience is second to none".

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