مقایسه شرط هاردشیپ و شرط بازنگری قیمت در قراردادهای فروش گاز

قراردادهای فروش گاز به‌طور معمول برای یک دوره زمانی طولانی تنظیم می‌شوند و ارزش آن‌ها اغلب به چندین میلیارد دلار می‌رسد. یکی از مشکلاتی که برای قراردادهای بلندمدت فروش گاز وجود دارد قیمت قرارداد و تغییر ناگهانی شرایطی است که ارزش گاز را تحت تاثیر قرار می‌دهند. به همین دلیل در این قراردادها طرفین تلاش می‌کنند با پیش‌بینی راه‌حل‌هایی مانند هاردشیپ و بازنگری قیمت، ابزارهایی را برای حمایت از طرف زیان‌دیده فراهم کنند. این دو شرط درصددند با بازنگری در قرارداد، آن‌ها را با شرایط جدید انطباق داده و تعادل اقتصادی قرارداد را حفظ کنند. با توجه به این شباهت، سوال این است که آیا این دو شرط یکسان‌اند و هر یک تکرار دیگری است یا از ماهیت متفاوتی برخوردارند؟ به نظر می‌رسد این دو شرط، گونه‌های متفاوتی هستند و اگرچه هر دو می‌توانند سبب بازنگری و حفظ تعادل قرارداد شوند اما هدف اولیه شرط بازنگری قیمت، حفظ رقابت‌پذیری قرارداد و انعکاس تغییر شرایط بازار در فرمول قیمت است اما شرط هاردشیپ به تاثیر تغییرات بر وضعیت طرفین توجه دارد و برای کاستن از هاردشیپ و هزینه طرف زیان‌دیده، اجازه بازنگری قرارداد را فراهم می‌کند.

comparison of hardship clause and price review clause in gas sales contracts

natural gas and liquefied natural gas (lng) are frequently traded through long-term take-or-pay contracts. these contractual arrangements, characterized by their extended duration and substantial investments in gas production, possess a unique nature in the energy industry. the execution of long-term contracts offers benefits for both sellers and buyers. on one hand, the sellers generate revenue from the obligations of receiving or paying, which serves to justify the investment in the high capital costs associated with gas production and transportation. on the other hand, buyers and customers attain a degree of supply security, safeguarding their energy needs over the contract's term. despite the advantage of long-term planning that these contracts afford, it is challenging for parties to anticipate and predict all possible future conditions accurately. consequently, the initial assumptions on which the contract was based may not remain immutable throughout its lifespan. the prolonged nature of these contracts renders them susceptible to unforeseen events or circumstances that were not envisioned at the time of contract formation. the longer the agreement, and the more exposed it is to geological, commercial, and political risks, the greater its vulnerability to external events. among the components of the contract profoundly influenced by economic and market fluctuations, the contract price, especially concerning energy, particularly gas, stands out. various events, ranging from political decisions to economic and market developments, can exert profound and potentially disruptive effects on the price of gas and lng. consequently, parties seek to manage the price risk through a variety of tools. sometimes, they employ mechanisms external to the contract, such as storage and financial contracts. alternatively, they may manage price risk by adopting strategies like price indexing based on competing energy sources. however, these solutions may not comprehensively address all unforeseen events. in response, price review clauses have been incorporated into gas sales contracts to introduce the necessary flexibility to adjust the contract price. these clauses serve as fundamental non-financial mechanisms for price management and support for the involved parties. price review clauses empower the revision of the contract price when severe and unpredictable price fluctuations occur during the contract's duration. this mechanism allows the affected party to find a solution to compensate and adapt the price formula without compromising the sanctity of the contract. as there is no predetermined standard for setting price review clauses, their structure and functionality may differ from contract to contract. therefore, a detailed examination of their provisions and an extraction of common concepts and principles governing their revisions become of paramount importance. enhanced comprehension of these clauses benefits both the contracting parties and those engaged in the market, fostering greater knowledge and transparency in negotiations and reducing potential ambiguities and doubts, which, in turn, saves considerable time and financial resources for all parties involved, including arbitrators who are tasked with resolving any disputes. the primary research question that emerges is whether there is a genuine need to include price revision clauses despite the existence of hardship clauses in gas sales contracts. are these two contractual provisions mere repetitions of each other, or do they serve distinct purposes? this research endeavors to analyze the characteristics of both hardship and price revision clauses separately, employing the library method to review relevant literature, documents, and case law. by doing so, the research seeks to paint a clear picture of these clauses for the contracting parties and those with a vested