International Gas Contracts

This paper offers an overview and explanation of international gas contracts, of which there are several types along the value chain. The key objective of this paper is to focus on two specific categories of long-term agreements for gas and liquefied natural gas (LNG) sales, namely Gas Supply Agreements for pipeline gas (GSAs) and Sale and Purchase Agreements for LNG (LNG SPAs). These two types of longterm supply contracts play a central role in the international gas industry, where natural gas is transported by cross-border pipelines or shipped over long distances in the form of LNG.