The following Energy practice note Produced in partnership with Andrews Kurth Kenyon provides comprehensive and up to date legal information covering:
While an LNG project must consider, in varying degrees, all aspects of the LNG value chain, this Practice Note focuses on the components that differ from other hydrocarbon projects, namely liquefaction, LNG transportation and LNG regasification. The issues and contracts involved in the upstream and downstream components of an LNG project are comparable to those involved in a crude oil project. For more information on LNG generally, see Practice Note: LNG—an introduction.
Broadly speaking, an LNG project will either be structured as an ‘integrated’ or a ‘non-integrated’ (ie standalone) project. The choice of structure will depend primarily on the sponsor’s appetite to invest in different elements of the LNG value chain. Historically, LNG projects were sponsored by companies with interests at all stages of the LNG value chain, but since the early 2000s, sponsors of liquefaction and regasification infrastructure have increasingly developed these projects as standalone businesses. In a standalone or ‘non-integrated’ model, the facility owner is not the gas or LNG purchaser, and is not necessarily the end marketer or end user of the product.
Integration need not be an all-or-nothing choice. LNG projects may also be partially integrated if the owner of the liquefaction and regasification infrastructure also owns the natural gas or LNG being processed, but has no interest in the rest of the value chain.
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