LNG Cargo definition

LNG Cargo means a cargo of LNG transported in an LNG Carrier.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

LNG Cargo means a cargo of LNG to be delivered by Seller to Buyer pursuant to a Confirmation Notice.

LNG Cargo means, with respect to a Transaction, a quantity of LNG scheduled for delivery under such Transaction to the applicable LNG Ship and approximately equal to the Nominal Quantity specified in or determined under the Confirmation Notice for such quantity of LNG;

Examples of LNG Cargo in a sentence

• Title to the LNG Cargo shall pass from Seller to Buyer in international waters at the point which is the last point where the LNG Ship is outside the territorial waters of the country in which Buyer's Facilities are located (“Title Transfer Point”).

• Risk of loss for any LNG remaining on the LNG Ship after discharge of the LNG Cargo shall remain with Seller.

• Promptly after completion of unloading of the LNG Cargo, Seller or its representative shall furnish to Buyer a certificate of volume unloaded, prepared in accordance with Schedule D.

• Title to any LNG remaining on the LNG Ship after discharge of the LNG Cargo will revert from Buyer to Seller at the first point following the exit of such LNG Ship from the territorial waters of the country in which Buyer’s Facilities are located.

• The Arrival Window for each LNG Cargo shall be that specified in the Confirmation Notice.

• If any Conditions of Use do not satisfy any of the aforementioned conditions, the Parties shall meet and discuss in good faith what measures (if any) can be taken to allow Seller to sell and deliver any applicable LNG Cargo under the relevant Transaction, including consideration of whether Buyer could take physical delivery of such LNG Cargo at a delivery point other than the Delivery Point.

• In such circumstances, such Confirmation Notice shall incorporate and be read together with this Master Agreement, and together such Confirmation Notice and this Master Agreement shall constitute a single integrated agreement between the buyer and seller thereunder for the sale and purchase of an LNG Cargo or LNG Cargoes (an “Affiliate Transaction”).

• Each Party shall notify the other Party promptly upon it becoming aware that any LNG Cargo is, or may become, an Affected LNG Cargo.

• A description, as compared with the Project Schedule and CPM Schedule, of engineering, procurement, construction, commissioning, and testing status including actual percentage complete versus planned percentage complete, document status, significant activities accomplished during the reporting Month, significant activities planned for the current Month and current estimated dates on which RFSU, First LNG Cargo and Substantial Completion shall be achieved.

• Two or more B&L Users may, at their option, agree to deliver a shared AP LNG Cargo (the “Shared LNG Cargo”).

More Definitions of LNG Cargo

LNG Cargo means the cargo of the Customer’s LNG, ranging between 10,000 m3 and 140,000 m3, which shall be finalized by the Customer and become binding on the Parties at the time of execution of Schedule 1, to be transported in the LNG Carrier from the Loading Port to the Receiving Facilities by the Customer through an Approved LNG Carrier.

LNG Cargo means a cargo of LNG to be delivered by the Service User to Bulgargaz pursuant to the Agreement.

LNG Cargo means the cargo of the Customer’s LNG to be transported from the Loading Port to the LNG Receipt Point by the Customer through an Approved LNG Carried.

LNG Cargo means a cargo of the Nominal Quantity of LNG to be delivered by the Seller to the Buyer pursuant to a Transaction. LNG Heel means, in relation to an Ex-Ship delivery, with respect to a given LNG Cargo, the volume or quantity of LNG that may be retained by the LNG Vessel after the discharge.

LNG Cargo means the cargo of the Customer’s LNG to be transported from the Loading Port to the LNG Receipt Point by the Customer through an Approved LNG Carrier.