A Gas Sale Agreement is a fundamental commercial contract used in the Australian energy market to establish a binding arrangement between a gas supplier and purchaser. This document is essential when parties wish to enter into a long-term gas supply arrangement, typically ranging from 1 to 10 years. It includes detailed provisions for gas quantities, pricing mechanisms, delivery specifications, and operational requirements, all structured within the Australian regulatory framework. The agreement should comply with the National Gas Law, relevant state legislation, and industry standards while addressing commercial risks and operational practicalities. It's particularly important for ensuring security of supply in the Australian gas market and managing the commercial relationships between producers, wholesalers, retailers, and large industrial users.
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1. Parties: Identification of seller and buyer entities, including ABN/ACN
2. Background: Context of the agreement, including seller's right to sell gas and buyer's purpose for purchase
3. Definitions and Interpretation: Defined terms, interpretation rules, and hierarchy of documents
4. Term and Commencement: Duration of agreement, conditions precedent, and commencement date
5. Gas Supply Obligations: Core supply obligations, including ACQ (Annual Contract Quantity) and DCQ (Daily Contract Quantity)
6. Delivery Point and Title: Specification of delivery point(s) and transfer of title and risk
7. Gas Specifications: Required quality and pressure specifications for delivered gas
8. Measurement and Testing: Requirements for measuring gas quantity and quality
9. Price and Payment: Gas price, payment terms, invoicing, and price review mechanisms
10. Nominations and Scheduling: Process for nominating gas quantities and scheduling delivery
11. Take-or-Pay Obligations: Minimum payment obligations regardless of actual gas taken
12. Transportation: Responsibilities for gas transportation and associated costs
13. Force Majeure: Events excusing performance and associated procedures
14. Default and Termination: Events of default, termination rights, and consequences
15. Dispute Resolution: Process for resolving disputes between parties
16. Confidentiality: Protection of confidential information
17. General Provisions: Standard boilerplate clauses including notices, assignment, and governing law
1. Maintenance and Outages: Used when seller operates production facilities, covering planned and unplanned maintenance
2. Make-up Gas: Include when offering flexibility to take previously paid-for gas in later periods
3. Carbon Costs: Include when carbon pricing or emissions trading schemes affect the contract
4. Gas Trading Rights: Used when allowing on-selling or trading of contracted gas
5. Security Requirements: Include when credit support or performance security is required
6. Gas Banking: Used when allowing carry-forward of unused gas quantities
7. Interruptible Supply: Include when offering additional gas supply on interruptible basis
8. Change in Law: Detailed provisions for handling regulatory changes when significant regulatory uncertainty exists
1. Schedule 1 - Contract Details: Key commercial terms, contact details, and notice addresses
2. Schedule 2 - Gas Specification: Detailed technical specifications for gas quality and pressure
3. Schedule 3 - Measurement Procedures: Detailed procedures for gas measurement and testing
4. Schedule 4 - Nomination Procedures: Detailed procedures for gas nominations and scheduling
5. Schedule 5 - Price Calculation: Detailed price calculations, adjustments, and review mechanisms
6. Schedule 6 - Delivery Points: Technical details and drawings of delivery points
7. Schedule 7 - Form of Bank Guarantee: Template for any required security documentation
8. Appendix A - Transportation Arrangements: Details of gas transportation arrangements and responsibilities
9. Appendix B - Communication Procedures: Operating communications and emergency contact procedures
Authors
Relevant legal definitions
Clauses
Relevant Industries
Oil & Gas
Energy
Utilities
Mining
Manufacturing
Power Generation
Industrial Processing
Chemical Manufacturing
Energy Trading
Infrastructure
Relevant Teams
Legal
Commercial
Operations
Trading
Risk Management
Business Development
Regulatory Compliance
Technical Services
Contract Administration
Supply Chain
Procurement
Sales
Finance
Relevant Roles
Commercial Manager
Energy Trading Manager
Gas Supply Manager
Contract Administrator
Legal Counsel
Operations Manager
Business Development Manager
Risk Manager
Technical Manager
Regulatory Compliance Officer
Commercial Director
Energy Procurement Manager
Chief Operating Officer
Sales Director
General Counsel
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