Comparative Analysis of Gas Purchase Contracts
AbstractGas Purchase Contracts, like all other contracts in the oil and gas industry, are constantly in the process of evolution and there are many existing forms of Gas Purchase Contracts. This article consists of comparative analysis of the provisions of four Gas Purchase Contracts in use in the natural gas indus try. The article commences with discussion of clause that has only recent ly been included in Gas Purchase Contracts in Western Canada, the prepay ment clause, indicates possible income tax problems arising out of the clause and considers provisions with respect to repayment of the prepayment. The article then discusses the most favoured nations clause and points out that it is important to determine the extent of the applicability of the clause to the provisions of subsequent contract. The article concludes with an analy sis of the remaining clauses in typical Gas Purchase Contract.
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