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of course, is whether the European buyers will actually pay for the gas they chose not to have delivered this year, as their contracts require.

I expect that they will - they can deduct the funds paid this year for undelivered gas from payments in the coming years for volumes above their minimal obligations then.

So is this only about changing the price formulas (away from oil prices towards spot-based formulas), or is it some attempt to weaken the "take-or-pay" clauses? It's not clear to me yet, and I'm pretty sure that different players in this story (including those reporting it) have different agendas here.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Oct 25th, 2009 at 08:49:59 AM EST

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