The latest ΙΕΝΕ study, authored by Ms. Gina Cohen, the well-known Israeli lecturer and consultant on natural gas, has now been published by IENE and is available in the “Reports” section of iene.eu. The cover of the study also appears under the publication section of this website and can be downloaded from there. The latest ΙΕΝΕ study, authored by Ms. Gina Cohen, the well-known Israeli lecturer and consultant on natural gas, has now been published by IENE and is available in the "Reports” section of iene.eu. The cover of the study also appears under the publication section of this website and can be downloaded from there. The study focuses on the main characteristics of long-term gas contracts based on the author’s experience regarding the general rules and negotiating tactics.
Gina Cohen analyses the Gas Sales and Purchasing Agreements (GSPAs) which serve as a main tool for the division of market risks by means of tying natural gas Sellers and Buyers for a considerable period. Because of the high capital intensiveness and market orientation of gas development, GSPAs have been one of the fundamental tools enabling Sellers to invest in exploration, production and development of gas fields, transporters to promote essential gas transportation infrastructure whether pipelines or liquefaction facilities, and Buyers to invest in consumer facilities, secure in the knowledge that they will have the gas supplies needed for their project’s life-span.
The aim of the 146-page study is to present an overview on gas sales and purchasing contracts but also empirically analyse them. The intention, as the author underlines, is not to consider all gas contracting issues, but only the GSPA fundamentals, such as the main terms and definitions, issues of firm volume and flexibility, and some gas pricing issues. The text is supplemented with actual examples and case studies on various aspects of GSPA, including disputes, standard questions and specialised studies. The research provides both factual data and practical recommendations for both parties of the contract. The study is intended to be a practical tool for both students and individuals involved in GSPA negotiations and drafting.
Ms. Cohen has been working as a consultant in Israel and Palestine’s gas markets since offshore exploration started there exactly 20 years ago. During this time, she has been involved in projects spanning the full natural gas chain. She is a lecturer at the Technion University’s M.Sc. Program for Petroleum Engineers, is a consultant to international oil and gas companies operating in the Eastern Mediterranean, is the author of the Hebrew English energy lexicon (www.hebrewenergy.com) used by all professionals in the Israeli oil and gas sector and regularly publishes articles in professional international oil and gas journals. Ms. Cohen participates regularly in regional and international conferences as an invited speaker and is also a Senior Research Associate of IENE.
