Common use of Gas Restitution Clause in Contracts

Gas Restitution. At least once a year, a balance statement of the use of Gas Offtake shall be drawn up by the Operator covering period P. Unless otherwise defined by the Operator, period P, for year N, shall run from 1 December of year N-1 to 1 December of year N. If a surplus is recorded, the Operator shall calculate, based on this surplus, a quantity Re to be returned to the Shipper in proportion to the combined total of the Quantities Unloaded by this Shipper in relation to the combined total of the Quantities Unloaded by all of the shippers at the Terminal over period P. If the Shipper has a contract in force over all or part of period P+1 immediately following P, the Operator shall apply Gas Restitution by increasing the Shipper's Shared Stock Level by the quantity Re on the date of the first Unloading following the drawing up of the balance statement or on a date to be agreed between the Parties. If the Shipper does not have a contract in force over all or part of period P+1, the Operator shall notify the Shipper of the returnable quantity Re. The Shipper may request, within two months of this notification, either for Re to be made available at the PITTM for removal, on a date and according to a schedule agreed with the Operator, or for a Stock Transfer for Re to be made to another shipper with a contract in force. In this case, and if this shipper makes a corresponding LNG Stock Transfer request, the Operator shall do its utmost to accept this transaction. If at the end of the two months following calculation of the Gas Restitution, the Shipper has not notified the Operator of its choice regarding the restitution procedures, the Shipper shall lose all of its rights to use the quantity Re which shall then be integrated into the Gas offtake taken into account in the balance statement drawn up for the purposes of Gas Restitution for period P+1. Over period P, the Operator shall calculate a PMR price equal to the average of the PREFM prices for the Months M of the period, as defined in Paragraph 11.5 of the General Terms and Conditions weighted using the combined total of the Quantities Unloaded by all the shippers at the Terminal for each Month M. Said Gas Restitution shall give rise to reciprocal invoicing, for identical amounts, between the Shipper and the Operator, for the PMR price.

Gas Restitution. At least once a year, a The Operator shall draw up an annual balance statement of the use of Gas Offtake shall be drawn up by covering the Operator covering period P. Unless otherwise defined by P from 6 a.m. on the Operator, period P, for year N, shall run from 1 first (1st) of December of year Year N-1 to 1 6 a.m. on the first (1st) of December of year Year N. If a surplus is recorded, the Operator shall calculate, based on this surplusthe surplus recorded at the Terminal, a quantity Re to be returned to the Shipper in proportion to the combined total of the Quantities Unloaded by this Shipper over the period P in relation to the combined total of the Quantities Unloaded by all of the shippers at the Terminal by all Shippers over period P. Gas Restitution shall give rise to reciprocal invoicing, for identical amounts, between the Shipper and the Operator, as per Article 33. Over the course of the period in question, the value of the restitution quantity Re shall be equal to the returnable amount multiplied by the average PREF prices for all Months in this period, as defined in Article 30.2, weighted using the combined Quantities Unloaded at the Terminal by all Shippers for each Month. If the this Shipper has a contract Contract in force over all or part of period P+1 immediately following PP+1, the Operator shall apply perform the Gas Restitution by increasing the Shipper's Shared Stock Inventory Level by the quantity Re on the date Date of the first First Unloading following the drawing up of the balance statement or on a date statement. If no Unloading is performed over the period P+1, the Shipper shall lose all rights to restitution for period P. The quantity in question shall then be agreed between incorporated into the Partiesoverall Gas Restitution volume for period P+1. If the Shipper does not have a contract Contract in force over all or part of period P+1, the Operator shall notify the Shipper of the returnable quantity Re. The Shipper may request, within the two (2) months of following this notification, either for Re to that this returnable quantity be made available at the PITTM for removal, removal on a date and according to a schedule agreed with the Operator, or for a Stock Transfer for Re that LNG Inventory equal to the returnable quantity be made transferred to another shipper with a contract valid contract, in force. In this which case, and if this shipper makes submits a corresponding LNG Stock Inventory Transfer request, the Operator shall do its utmost to accept this transactionapprove this. If at the end of the after two months (2) Months following calculation of the Gas Restitution, Restitution calculation the Shipper has not notified the Operator of its choice regarding the restitution procedures, the Shipper shall lose all of its rights to use the restitution over period P. The Shipper's returnable quantity Re which for period P shall then be integrated incorporated into the Gas offtake taken into account in the balance statement drawn up for the purposes of overall Gas Restitution volume for period P+1. Over period PShould it arise that the total quantity of Gas Offtake for all Shippers is unable to cover the Terminal's consumption, the Operator deficit for period P shall calculate a PMR price equal be carried over to the average of the PREFM prices for the Months M of the period, as defined in Paragraph 11.5 of the General Terms and Conditions weighted using the combined total of the Quantities Unloaded by all the shippers at the Terminal for each Month M. Said Gas Restitution shall give rise to reciprocal invoicing, for identical amounts, between the Shipper and the Operator, for the PMR priceperiod P+1.

Gas Restitution. At least once a year, a balance statement of the use of Gas Offtake shall be drawn up by the Operator covering period P. Unless otherwise defined by the Operator, period P, for year N, shall run from 1 December of year N-1 to 1 December of year N. If a surplus is recorded, the Operator shall calculate, based on this surplus, a quantity Re to be returned to the Shipper in proportion to the combined total of the Quantities Unloaded by this Shipper in relation to the combined total of the Quantities Unloaded by all of the shippers at the Terminal over period P. If the Shipper has a contract in force over all or part of period P+1 immediately following P, the Operator shall apply Gas Restitution by increasing the Shipper's Shared Stock Level by the quantity Re on the date of the first Unloading following the drawing up of the balance statement or on a date to be agreed between the Parties. If the Shipper does not have a contract in force over all or part of period P+1, the Operator shall notify the Shipper of the returnable quantity Re. The Shipper may request, within two months of this notification, either for Re to be made available at the PITTM for removal, on a date and according to a schedule agreed with the Operator, or for Re to be made available within the Shared Stock of the Terminal or for a Stock Transfer for Re to be made to another shipper with a contract in force. In this case, and if this shipper makes a corresponding LNG Stock Transfer request, the Operator shall do its utmost to accept this transaction. If at the end of the two months following calculation of the Gas Restitution, the Shipper has not notified the Operator of its choice regarding the restitution procedures, the Shipper shall lose all of its rights to use the quantity Re which shall then be integrated into the Gas offtake taken into account in the balance statement drawn up for the purposes of Gas Restitution for period P+1. Over period P, the Operator shall calculate a PMR price equal to the average of the PREFM prices for the Months M of the period, as defined in Paragraph 11.5 of the General Terms and Conditions weighted using the combined total of the Quantities Unloaded by all the shippers at the Terminal for each Month M. Said Gas Restitution shall give rise to reciprocal invoicing, for identical amounts, between the Shipper and the Operator, for the PMR price. Should it arise that the total quantity of Gas Offtake for all Shippers is unable to cover the Terminal's consumption, the deficit for period P shall be carried over to period P+1.