Common use of LNG INVENTORY TRANSFER Clause in Contracts

LNG INVENTORY TRANSFER. The Shipper may, at any time, subscribe to an LNG Inventory Transfer service allowing it to exchange quantities of LNG with other Shippers within the Terminal. Subscription to this service covers a minimum period equal to the Invoicing Period over the course of which the subscription was taken out. As part of this service, the assignor shipper shall send to the Operator its request specifying the Day of the LNG Inventory Transfer, the Quantity of the LNG Inventory Transfer (which must not result in a negative Inventory Level), the transferred part of its Forecasted Daily Send-Out as well as the identity of the beneficiary shipper and subscriber to the LNG Inventory Transfer service for the Operator to take account of the request. The Shipper’s Inventory Level shall be adjusted on the agreed date of the LNG Inventory Transfer when the Operator has received the equivalent notification from the other shipper with which the Shipper has conducted the LNG Inventory Transfer.