Common use of Terms for Natural Gas Clause in Contracts

Terms for Natural Gas. (a) If the Natural Gas requirements of the domestic market in Guyana (the "Natural Gas Domestic Demand") exceed the Minister's total entitlement from all Natural Gas production in Guyana, then the Contractor shall be obliged together with any third parties which produce Natural Gas in Guyana, to supply and sell a volume of Natural Gas to be used for such Natural Gas Domestic Demand in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of Natural Gas bears to the sum of the Contractor's Lifting Entitlement of Natural Gas plus the total entitlement of all other producers in Guyana subject to Article 23.2(c). The volume of Natural Gas which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Gas entitlement under this agreement. The Minister shall give the Contractor notice on or prior to April 1st of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Natural Gas Domestic Demand shall consist of those quantities of Natural Gas used for domestic residential, commercial and industrial consumption, including fuel used for domestic power generation. Natural Gas liquefied or compressed in Guyana for export or used as feedstock for other exports, such as methanol and fertilizer, shall not be considered part of Natural Gas Domestic Demand. (b) The Contractor shall, in any Year, have a right to supply out of the Contractor's Lifting Entitlement of Natural Gas the proportion of the Natural Gas requirements of Guyana that the quantity produced from the Contract Area bears to the total production at the time in Guyana to the extent that such requirement is not satisfied from any contract entered into prior to the date of commencement of production from the Contract Area. For the purpose of this paragraph, the term “the Natural Gas requirements of Guyana" means the amount by which, in any Year, Domestic Demand exceeds the Minister's total entitlement to all Natural Gas produced in Guyana. The Contractor shall give the Minister notice on or prior to April 1st of the Calendar Year preceding the Calendar Year in respect of which the Contractor wishes to exercise the aforesaid right and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. Notwithstanding the foregoing the Contractor shall have the right to supply the total amount calculated pursuant to the foregoing provisions. (c) The price payable for the sale of Natural Gas pursuant to this Article shall be paid in United States dollars (or other currency as may be agreed) at a place specified by the Contractor within thirty (30) calendar days of receipt of the Contractor's invoice by the Minister, and shall be determined in accordance with Article 36, failing which the Contractor's obligations in respect of the Domestic Supply Obligations of this Article 23 shall be suspended until payment is made good, at which time deliveries shall be resumed subject to any alternative commitments that may have been reasonably entered into by the Contractor to dispose of the Natural Gas during the period of default in payment. The Contractor shall recover any amount due and unpaid by the Government, plus interest at the Agreed Interest Rate, from the Government’s Lifting Entitlement of Natural Gas. (d) Any sale of Natural Gas as provided for in Article 23.2(a) - (c) shall occur at the Delivery Point or such other point as the Minister and the Contractor may mutually agree. (e) All terms and conditions for the sale of Natural Gas pursuant to this Article, shall be specified in a contract of sale entered into between the Minister and the Contractor.

Terms for Natural Gas. (a) If the Natural Gas requirements of the domestic market in Guyana (the "Natural Gas Domestic Demand") exceed the Minister's total entitlement from all Natural Gas production in Guyana, then the Contractor shall be obliged together with any third parties which produce Natural Gas in Guyana, to supply and sell a volume of Natural Gas to be used for such Natural Gas Domestic Demand in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of Natural Gas bears to the sum of the Contractor's Lifting Entitlement of Natural Gas plus the total entitlement of all other producers in Guyana subject to Article 23.2(c). The volume of Natural Gas which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Gas entitlement under this agreement. The Minister shall give the Contractor notice on or prior to April 1st 1 of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Natural Gas Domestic Demand shall consist of those quantities of Natural Gas used for domestic residential, commercial and industrial consumption, including fuel used for domestic power generation. Natural Gas liquefied or compressed in Guyana for export or used as feedstock for other exports, such as methanol and fertilizer, shall not be considered part of Natural Gas Domestic Demand. (b) The Contractor shall, in any Year, have a right to supply out of the Contractor's Lifting Entitlement of Natural Gas the proportion of the Natural Gas requirements of Guyana that the quantity produced from the Contract Area bears to the total production at the time in Guyana to the extent that such requirement is not satisfied from any contract entered into prior to the date of commencement of production from the Contract Area. For the purpose of this paragraph, the term “the Natural Gas requirements of Guyana" means the amount by which, in any Year, Domestic Demand exceeds the Minister's total entitlement to all Natural Gas produced in Guyana. The Contractor shall give the Minister notice on or prior to April 1st 1 of the Calendar Year preceding the Calendar Year in respect of which the Contractor wishes to exercise the aforesaid right and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. Notwithstanding the foregoing the Contractor shall have the right to supply the total amount calculated pursuant to the foregoing provisions. (c) The price payable for the sale of Natural Gas pursuant to this Article shall be paid in United States dollars (or other currency as may be agreed) at a place specified by the Contractor within thirty (30) calendar days of receipt of the Contractor's invoice by the Minister, and shall be determined in accordance with Article 36, failing which the Contractor's obligations in respect of the Domestic Supply Obligations of this Article 23 shall be suspended until payment is made good, at which time deliveries shall be resumed subject to any alternative commitments that may have been reasonably entered into by the Contractor to dispose of the Natural Gas during the period of default in payment. The Contractor shall recover any amount due and unpaid by the Government, plus interest at the Agreed Interest Rate, from the Government’s Lifting Entitlement of Natural Gas. (d) Any sale of Natural Gas as provided for in Article 23.2(a) - (c) shall occur at the Delivery Point or such other point as the Minister and the Contractor may mutually agree. (e) All terms and conditions for the sale of Natural Gas pursuant to this Article, shall be specified in a contract of sale entered into between the Minister and the Contractor.

Terms for Natural Gas. (a) If the Natural Gas requirements of the domestic market in Guyana (the "“Natural Gas Domestic Demand"”) exceed the Minister's total entitlement from all Natural Gas production in Guyana, then the Contractor shall be obliged together with any third parties which produce Natural Gas in Guyana, to supply and sell a volume of Natural Gas to be used for such Natural Gas Domestic Demand in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of to Natural Gas bears to the sum of the Contractor's Lifting Entitlement of Natural Gas entitlement plus the total entitlement of all other producers in Guyana subject to Article 23.2(c17.2(c). The volume of Natural Gas which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Gas entitlement under this agreementProfit Petroleum. The Minister shall give the Contractor notice on or prior to April 1st 1 of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Natural Gas Domestic Demand shall consist of those quantities of Natural Gas used for domestic residential, commercial and industrial consumption, including fuel used for domestic power generationgeneration determined by the Minister before the submission of a Development Plan, including a forecast of the reasonable variation in demand in the future. Natural Gas liquefied or compressed in Guyana for export or used as feedstock for other petrochemical exports, such as methanol and fertilizer, shall not be considered part of Natural Gas Domestic Demand. Any sales of Natural Gas to the domestic market shall be priced at the net-back price of such Natural Gas in the production Field, which shall be calculated as the market destination price where the Natural Gas would be sold minus: transport, marketing, processing, compression, liquefaction and any other fee or tariff paid to take the gas from the Field to the destined market. In the event of a failure to reach agreement on the price, volume and/or terms of sale, either Party may submit the dispute for sole expert determination pursuant to Article 26.3. (b) The Contractor shall, in any Year, have a right to supply out of the Contractor's Lifting Entitlement of Natural Gas the proportion of the Natural Gas requirements of Guyana that the quantity produced from the Contract Area bears to the total production at the time in Guyana to the extent that such requirement is not satisfied from any contract entered into prior to the date of commencement of production from the Contract Area. For the purpose of this paragraph, the term “the Natural Gas requirements of Guyana" ” means the amount by which, in any Year, Domestic Demand exceeds the Minister's total entitlement to all Natural Gas produced in Guyana. The Contractor shall give the Minister notice on or prior to April 1st 1 of the Calendar Year preceding the Calendar Year in respect of which the Contractor wishes to exercise the aforesaid right and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. Notwithstanding the foregoing the Contractor shall have the right to supply the total amount calculated pursuant to the foregoing provisions. (c) The price payable for the sale of Natural Gas pursuant to this Article shall be paid in United States dollars (or other currency as may be agreed) at a place specified by the Contractor within thirty (30) calendar days of receipt of the Contractor's invoice by the Minister, and shall be determined in accordance with Article 3617.2(a), failing which the Contractor's ’s obligations in respect of the Domestic Supply Obligations of this Article 23 17 shall be suspended until payment is made good, at which time deliveries shall be resumed subject to any alternative commitments that may have been reasonably entered into by the Contractor to dispose of the Natural Gas during the period of default in payment. The Contractor shall recover any amount due and unpaid by the Government, plus interest at the Agreed Interest Rate, from the Government’s Governments Lifting Entitlement of Natural Gas. (d) Any sale of Natural Gas as provided for in Article 23.2(a17.2(a) - (c) shall occur at the Delivery Point or such other point as the Minister and the Contractor may mutually agree. (e) All terms and conditions for the sale of Natural Gas pursuant to this Article, shall be specified in a contract of sale entered into between the Minister and the Contractor.

Terms for Natural Gas. (a) If the Natural Gas requirements of the domestic market in Guyana (the "Natural Gas Domestic Demand") exceed the Minister's total entitlement from all Natural Gas production in Guyana, then the Contractor shall be obliged together with any third parties which produce Natural Gas in Guyana, to supply and sell a volume of Natural Gas to be used for such Natural Gas Domestic Demand in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of Natural Gas bears to the sum of the Contractor's Lifting Entitlement of Natural Gas plus the total entitlement of all other producers in Guyana subject to Article 23.2(c24.2(c). The volume of Natural Gas which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Gas entitlement under this agreementProfit Gas. The Minister shall give the Contractor notice on or prior to April 1st 1 of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Natural Gas Domestic Demand shall consist of those quantities of Natural Gas used for domestic residential, commercial commercial, and industrial consumption, including fuel used for domestic power generation. Natural Gas liquefied or compressed in Guyana for export or used as feedstock for other exports, such as methanol and fertilizer, shall not be considered part of Natural Gas Domestic Demand. (b) The Contractor shall, in any Year, have a right to supply out of the Contractor's Lifting Entitlement of Natural Gas the proportion of the Natural Gas requirements of Guyana that the quantity produced from the Contract Area bears to the total production at the time in Guyana to the extent that such requirement is not satisfied from any contract entered into prior to the date of commencement of production from the Contract Area. For the purpose of this paragraph, the term “the Natural Gas requirements of Guyana" means the amount by which, in any Year, Domestic Demand exceeds the Minister's total entitlement to all Natural Gas produced in Guyana. The Contractor shall give the Minister notice on or prior to April 1st 1 of the Calendar Year preceding the Calendar Year in respect of which the Contractor wishes to exercise the aforesaid right and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. Notwithstanding the foregoing the Contractor shall have the right to supply the total amount calculated pursuant to the foregoing provisions. (c) The price payable for the sale of Natural Gas pursuant to this Article shall be paid in United States dollars (or other currency as may be agreed) at a place specified by the Contractor within thirty (30) calendar days of receipt of the Contractor's invoice by the Minister, and shall be determined in accordance with Article 3637.2, failing which the Contractor's obligations in respect of the Domestic Supply Obligations of this Article 23 24 shall be suspended until payment is made good, at which time deliveries shall be resumed subject to any alternative commitments that may have been reasonably entered into by the Contractor to dispose of the Natural Gas during the period of default in payment. The Contractor shall recover any amount due and unpaid by the Government, plus interest at the Agreed Interest Rate, from the Government’s Governments Lifting Entitlement of Natural Gas. (d) Any sale of Natural Gas as provided for in Article 23.2(a24.2(a) - (c) shall occur at the Delivery Point or such other point as the Minister and the Contractor may mutually agree. (e) All terms and conditions for the sale of Natural Gas pursuant to this Article, shall be specified in a contract of sale entered into between the Minister and the Contractor.

Terms for Natural Gas. (a) If the Natural Gas requirements of the domestic market in Guyana (the "Natural Gas Domestic Demand") exceed the Minister's total entitlement from all Natural Gas production in Guyana, then the Contractor shall be obliged together with any third parties which produce Natural Gas in Guyana, to supply and sell a volume of Natural Gas to be used for such Natural Gas Domestic Demand in Guyana, calculated on the basis of the ratio which the Contractor's Lifting Entitlement of Natural Gas bears to the sum of the Contractor's Lifting Entitlement of Natural Gas plus the total entitlement of all other producers in Guyana subject to Article 23.2(c24.2(c). The volume of Natural Gas which the Contractor shall be required to sell under this Article shall not exceed the Contractor's share of Gas entitlement under this agreementProfit Gas. The Minister shall give the Contractor notice on or prior to April 1st 1 of the year preceding the Calendar Year in which the Government will have the said requirement and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. For the purpose of this Agreement, Natural Gas Domestic Demand shall consist of those quantities of Natural Gas used for domestic residential, commercial and industrial consumption, including fuel used for domestic power generation. Natural Gas liquefied or compressed in Guyana for export or used as feedstock for other exports, such as methanol and fertilizer, shall not be considered part of Natural Gas Domestic Demand. (b) The Contractor shall, in any Year, have a right to supply out of the Contractor's Lifting Entitlement of Natural Gas the proportion of the Natural Gas requirements of Guyana that the quantity produced from the Contract Area bears to the total production at the time in Guyana to the extent that such requirement is not satisfied from any contract entered into prior to the date of commencement of production from the Contract Area. For the purpose of this paragraph, the term “the Natural Gas requirements of Guyana" means the amount by which, in any Year, Domestic Demand exceeds the Minister's total entitlement to all Natural Gas produced in Guyana. The Contractor shall give the Minister notice on or prior to April 1st 1 of the Calendar Year preceding the Calendar Year in respect of which the Contractor wishes to exercise the aforesaid right and the term of the supply shall be on a Calendar Year basis unless otherwise agreed. Notwithstanding the foregoing the Contractor shall have the right to supply the total amount calculated pursuant to the foregoing provisions. (c) The price payable for the sale of Natural Gas pursuant to this Article shall be paid in United States dollars (or other currency as may be agreed) at a place specified by the Contractor within thirty (30) calendar days of receipt of the Contractor's invoice by the Minister, and shall be determined in accordance with Article 3637.2, failing which the Contractor's obligations in respect of the Domestic Supply Obligations of this Article 23 24 shall be suspended until payment is made good, at which time deliveries shall be resumed subject to any alternative commitments that may have been reasonably entered into by the Contractor to dispose of the Natural Gas during the period of default in payment. The Contractor shall recover any amount due and unpaid by the Government, plus interest at the Agreed Interest Rate, from the Government’s Governments Lifting Entitlement of Natural Gas. (d) Any sale of Natural Gas as provided for in Article 23.2(a24.2(a) - (c) shall occur at the Delivery Point or such other point as the Minister and the Contractor may mutually agree. (e) All terms and conditions for the sale of Natural Gas pursuant to this Article, shall be specified in a contract of sale entered into between the Minister and the Contractor.