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Accounting Procedure - Revision of 2012 Model Form

(Co-chaired by: Thomas Kott and Nadine Amr)

The AIEN Board has approved the formation of a drafting committee to revise the AIEN 2012 Accounting Procedure. The committee undertaking this project will review the model form in light of practical experience with its use over the past 11 years, discuss any enhancements and clarifications that are desirable, and generally update the form. The goals of the process will include aligning the Accounting Procedure with the 2023 Model International JOA and enhancing the Accounting Procedure to address practical issues encountered among users and changes to ensure the model Accounting Procedure aligns with current practice across the industry.

Joint Operating Agreement 2023 - Brazilian User's Guide

(Co-chaired by: Patricia Arruda, Alexandre Calmon and Bernardo Castellões)

The AIEN Board has approved the formation of a drafting committee to develop Brazil-specific user’s notes for the AIEN’s 2023 Model Joint Operating Agreement. The committee undertaking this project has the objective of preparing a user’s guide that will address issues arising under Brazilian law that should be taken into account when preparing a JOA for use in Brazil and/or will be governed by Brazilian law.

LNG Sale and Purchase Agreement

(Co-chaired by: James English, Patricia Tiller, Ryan Pereira)

The newly formed LNG Sale and Purchase Agreement committee has the objective of drafting an AIEN Model Form LNG SPA. This LNG SPA will only address the sale and purchase of LNG on a long-term FOB basis, and will not address sales contemplating a DES/DAP structure. The committee will however draft guidance notes to discuss conversion of the base agreement to a DES/DAP structure. Key issues will include purchase structure, start date, term, contract quantity, pricing, price review, quality standards, destination restrictions and flexibility, force majeure, scheduling, and transportation. The Committee will generally adopt the boilerplate terms of the LNG MSA. As a general objective, the agreement will attempt to provide the LNG industry with a neutral agreement appropriate for long term buyers, producers, and portfolio aggregators.