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Attribution Non-Commercial (BY-NC)

- LNG Business Plan 20130220
- Natural Gas Pricing and Its Future: Europe as the Battleground
- LNG Economics
- GlobalLNG_JPM
- LNG Basics
- Oil Gas
- LNG Contract Structure
- Understanding Natural Gas Prices
- David_thomas LNG Market Outlook
- Energy Assessment - ConocoPhilips.pdf
- Natural Gas Report MIT
- MASTER LNG FOB SALES AGREEMENT
- Issues and Marketing Strategies of Natural Gas in India
- LNG Shipping Markets
- LNG Master Sales Agreement & Their Value in a Destination Flexible LNG Market - Steven Miles
- 12 LNG Master Sales and Purchase Agreement September 2009
- A Guide to LNG Charter Agreements Final
- LNG a Nontechnical Guide (Tusiani, Shearer)
- Comparisons between LNG Terminals
- LnG

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Myanmar – LNG

1. India

Pn = 1.1+JCC X 0.06

JCC: is the average of JCC values for the month of n-3 to n-14, where n is the

month in which LNG is being delivered from the project.

JCC (n-3): average of JCC for three month prior to delivery month

Pc3 (n-1): price per metric ton for the weighted average of the CIF import prices

of propane into Korea in the month “n-1”.

Pn = 0.11 X JCCm+0.72

JCCm: average of two month (n-2), three month (n-3) and four month (n-4) JCC

prior to delivery month.

PMT Price

Price of Gas for each MMBTU for each Contract Quarter shall be determined by the following

formula:

Where :

A = A value calculated for the HS / LSFO Basket, evaluated for the twelve (12) months

preceding the first month of any Contract Quarter calculated on the basis of the arithmetic

average of the monthly values of the prices of the listed products as published in Platt’s

Oil gram Price Report.(These values are derived from the mean of the daily ranges on

days the postings are published to give a monthly value).

B = [ ].A value calculated for the HS / LSFO Basket, evaluated for the twelve (12)

months April 1993 through March 1994.

The High Sulfur / Low Sulfur Fuel Oil Basket (“HS / LSHO Basket”) is valued as equal parts of:

(1) bulk residual fuel oil, containing one percent (1%), sulphur, quoted for

Mediterranean, basis Italy, (Cargoes, FOB Med, basis Italy); and

(2) bulk residual fuel oil, containing one percent (1%) sulfur, quoted for Northwest

Europe Cargoes, CIF, basis ARA, (Cargoes CIF NEW, Basis ARA), and

(3) bulk residual fuel oil, Singapore Cargoes, containing three and one-half percent

(3.5%) sulfur, viscosity 180 centistokes, (Singapore HSFO, 180 cst), and

(4) bulk residual fuel oil, Cargoes, FOB Arab Gulf, viscosity 180 centistokes, (Arab

Gulf, FOB HSFO 180 cst)

The Price of Gas from each field shall not be less than the Floor Price and more than the

Ceiling Price as mentioned hereinafter:

The Floor Price (“Floor Price”) for Panna-Mukta and Mid & South Tapti Fields is

equal to $ 2.11 / MMBTU.

5.73/MMBTU.

The Ceiling Price (“Ceiling Price”) for Mid & South Tapti Fields is equal to $

5.57/MMBTU.

Parties agree to convert US$ / barrel prices for fuel oil as published in Platt’s Oil gram to

US $ / MMBTU using a conversion factor of 6.28.

If Platt’s Oil gram is no longer published, an alternate publication shall be mutually

agreed upon.

Reliance Gas Price

Original RIL Formula (as per GAIL-Term Sheet)

112.5*K + C + ER*(CP-25)0.15

Fixed component

Biddable component

Brent crude linked component

− K=1 if ER is more than 25 and less than 65

− K=ER/25 if ER is 25 or lower

− K=ER/65 if ER is 65 or more

− C is the biddable component (a non zero positive integer)

− As per term sheet signed between GAIL and RIL, C =4

− CP is the average price or Brent crude oil in US$/barrel for previous FY. CP floor

has been kept at 25 and CP cap at 65

Presently ‘CP’ is greater than the ceiling and is not expected to come below 65 in the

near future so the Brent crude linked component is likely to remain based on CP cap.

Thus RIL gas price (Considering USD 1=41 INR) as per term sheet is :

= 112.5+4+(41*1.74)

=112.5+4+71.3

=187.8 Rs /MMBTU or 4.58 $/MMBTU

ER*2.5 + C + ER*(CP-25)0.15

Fixed component

Biddable component

Brent crude linked component

− C is the biddable component (a non zero positive integer)

− Presently C has been kept at Zero with an option with Govt. to review it

− CP is the average price or Brent crude oil in US$/barrel for previous FY.

− CP floor has been kept at 25 and CP cap at 60

Presently CP is greater than the ceiling and is not expected to come below 60 in the near

future so the Brent crude linked component is likely to remain based on CP cap.

Thus, based on revised formula {ER*2.5+0+ER*(60-25) 0.25}, RIL gas price shall be as under:

= ER*(2.5) + 0 + ER*1.7

= 41*2.5 + 41*1.7

= 102.5 + 69.7

=Rs 172.2/MMBTU or $ 4.2 per MMBTU (This is the base Price @ USD=41 INR)

Under the new formula, the total price is USD denominated whereas in the original

formula there was a INR component and a USD component. Also, since biddable

component can again be introduced subsequently, the price can increase in future

whenever such a review is under taken. Under the current exchange rate scenario, the

new formula results in a lower gas price.(see attached graph)

R-LNG Price for RLNG from PLL Dahej

1. In terms of the contract signed between PLL and Rasgas, the LNG

price formula is

JCC price would be the average of the preceding 12 months average

leaving the last 3 months including the pricing month.

The above price is subject to a floating ceiling and floor price linked to

JCC price.

2. However for the first five years ending 31st December 2008, the JCC

price in the above formula would be a fixed price of $20/Bbl.

Accordingly the LNG FOB price is a fixed price of $2.53/MMBTU upto

31.12.2008.

a)The price for period commencing from 1st January, 2009 shall be

subject to a floating cap and ceiling. The cap and ceiling to be

computed as below:

------------------------- + 4

60

------------------------- - 4

60

Where N = 1 for Jan,2009, increasing by 1 each month until it

reaches 60 for December 2013 and remaining 60 thereafter

for each month upto the end of the term of this Agreement.

month.

would be from PLL (including capacity from 5 MMTPA to 10

MMTPA).

Myanmar Pipeline Bid

Formula as given in the Pipeline Bid -

Price in $ / mmbtu (P) = [Alfa] x (0.5 x (Henry Hub / Henry Hub p) + 0.5 x (Fuel

Oil / Fuel Oil p)) + [Beta], where

Henry Hub: The yearly average of closing price for prompt month Nymex futures for

Natural Gas (one year period before each Recalculation Date). Henry Hub p being this

figure for 2006 ($ 6.9769 / mmbtu).

Fuel Oil: The yearly average of mean of FO 180CST 2% price under FOB Singapore

published by Platt's Asia-Pacific / Arab Gulf Marketscan (one year period before each

Recalculation Date). Fuel Oil p being this figure for 2006 ($ 328.1588 / ton).

Alfa and Beta: The figures which a bidder is requested to propose respectively for the

determination of Pricing Formula applicable to sale and purchase of gas.

GAIL reviewed the affordable price level and based on final customer price of $

7.2 / mmbtu in the eastern Indian market, had quoted Alfa = 3.34 & Beta = 1.67.

T (Off-shore tariff) = $1.042 / mmbtu, 100% floating with the formula - proposed by

Consortium; whereas PetroChina has proposed T = $0.8 / mmbtu

Denominators CPI (USA CPI), OM (USA OM) & F (FO Singapore) equal to Yetaguna

numerators on the day of GSA signing and the Numerators would be last 12 months

averages as per Yetaguna formula.

Turkemenistan

Original Yetaguna Price formula

where P1 = base for normal price at mid 1998 = 3.0 US$ /MMbtu

k1 = weighted constant factor for Consumer Price Index in

the USA (CPI USA) = 20 %

CPIy = CPI USA for last 12 months with 6 months lag.

k2 = weighted constant factor for Producer Price Index for

Oil Tools Machinery (OM ) = 20 %

OMy = PPI (Oil Machines Tools – USA) for last 12 months with 6

months lag

k3 = weighted constant factor for Fuel Oil ( FO) = 50 %

Fy = Singapore Fuel Oil (2% S 180 Cst) for last 12 months

k4 = weighted constant factor for fixed part = 10 %

CPI = 170.036 for 1998

OM = 117.711 for 1998

F = 15.5 US$ /BBl for 1998

By = 3.0 [ 0.2 ( CPlY / 170.036 ) + 0.2 ( OMY / 117.711 ) + 0.5 ( FY /15.5 ) + 0.1 ]

Turkmenistan

Pn = Po X (0.33 X Hn/Ho + 0.34 X Ln/Lo + 0.33 X Gn/Go)

Po = base price in US dollars/1000 m3

Hn = the arithmetic mean of the monthly prices for fuel oil with a viscosity of 380 CST.

Ho = the base value, which is the arithmetic mean of the monthly prices for HSFO 380

CST fuel oil.

Ln = the arithmetic mean of the monthly prices for fuel oil with a viscosity of 180 CST.

Lo = the base value, which is the arithmetic mean of the monthly prices for HSFO 180

CST fuel oil.

Gn = the arithmetic mean of the monthly prices for Gasoil Reg. 0.5% in US dollars per

barrel.

Go = the base value, which is the arithmetic mean of the monthly prices for Gasoil Reg

0.5% in US dollar per barrel.

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