The Association of International Petroleum Negotiators has unveiled an updated model LNG master sale and purchase agreement aimed at greasing the wheels of short-term LNG trades.
Baker Botts lawyer Steven Miles, who co-chaired the AIPN group that created the form, said the SPA is designed to balance the interests of buyers and sellers throughout the globe.
The form is intended as a resource to reduce transaction costs and time in spot LNG trades so market players can quickly take advantage of arbitrage opportunities.
