Επισκόπηση του πλαισίου των συμβάσεων προμήθειας φυσικού αερίου
Overview of the framework of natural gas supply contracts
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Abstract
Energy is one of the most critical variables for the global economy and social well-being. The reduction of available petroleum energy sources while Europe remains highly depended upon energy imports to cope with the ever-increasing rate of energy consumption inevitably shaped the development of the natural gas (NG) sector. The basic conditions for the proper functioning of this sector include security of supply, competitive organization of the energy market and environmental sustainability. This thesis presents a critical review of international NG contracts, with particular emphasis on specific categories of long-term gas and liquefied natural gas (LNG) agreements. Supply contracts play a central role in the international NG industry, where natural gas is transported by cross-border pipelines or shipped over long distances in the form of LNG. Gas Supply Agreements (GSAs) and LNG Sale and Purchase Agreements (LNG SPAs) date back to the mid-1900s and later led to the development of international NG and LNG trade. Despite the emergence and increasing role of other types of short- and medium-term contracts, long-term GSAs and LNG SPAs have remained the main contractual instruments for international sales, now enriched with a wide variety of pricing mechanisms, with flexible volume adjustments for operational purposes and LNG cargo diversions. This thesis, also, presents the latest impact of the Russian NG disturbances on Europe's economic output, as well as the counter measures implemented, including the promotion of strong pass-through pricing and the creation of an energy saving culture.