We are delighted to announce the publication of the second edition of Gas and LNG Price Arbitrations (2020, Globe Law and Business), in which Wilmer Cutler Pickering Hale and Dorr LLP partner Steven Finizio and counsel Michelle Glassman Bock have written a chapter on "The Adjustment Phase in Gas Price Reviews Under Long-Term Gas Supply Contracts.”

The chapter addresses in practical terms the different contractual approaches to price adjustments in long-term gas supply contracts and provides essential background and practical analysis of this critical phase of a gas price review from experienced practitioners. In the chapter, the authors

• discuss different approaches taken in such contracts;
• analyze the relationship between trigger and adjustment;
• examine the scope of an adjustment;
• consider the application of any relevant benchmarks in determining the adjustment;
• assess the impact, if any, of an “in any case” clause; and
• address certain procedural issues that can arise in connection with the adjustment phase of a price review arbitration.

This second edition covers the various practical aspects of international gas pricing disputes. It contains contributions from leading international arbitration practitioners and arbitrators in the field, in-house counsel, and industry experts. It considers the various stages of a gas pricing dispute, from drafting the clause to triggering a review, all the way through the various stages of the arbitral process. It also builds on the first edition, with insights into more substantive topics such as hub indexation, the impact on pricing of non-price terms such as destination flexibility, and the differences between gas and LNG price reviews.

Despite the large number of high-value disputes in this area, this is one of the very few publications to draw together the various strands of gas pricing disputes into one book. It is therefore an invaluable guide for practitioners, in-house counsel and anyone else with an interest in this area.

Review from first edition: The strength of this publication lies in its original, thorough and extremely detailed analysis of the stages of the gas pricing dispute and the arbitral process as well as the perspective it gives on possible pricing developments in the future and the role of dispute resolution in this context. - Association for International Arbitration.

More information and to purchase.