Gas Purchase Agreement

Gas Purchase Agreement Template for England and Wales

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"I need a Gas Purchase Agreement for a 5-year supply arrangement starting March 2025, where my manufacturing company will purchase natural gas from a UK supplier with a minimum annual commitment of 500,000 therms and monthly payment terms."

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What is a Gas Purchase Agreement?

A Gas Purchase Agreement is essential for businesses engaged in the sale and purchase of natural gas in England and Wales. This agreement serves as the primary commercial instrument defining the relationship between gas suppliers and buyers, incorporating crucial elements such as delivery obligations, quality specifications, and pricing mechanisms. The document ensures compliance with UK energy regulations, including the Gas Act 1986 and related legislation, while providing a framework for managing commercial risks and operational requirements. It's particularly relevant for long-term supply arrangements and major industrial or commercial gas purchases.

What sections should be included in a Gas Purchase Agreement?

1. Parties: Identification and details of the seller and buyer

2. Background: Context of the agreement and brief description of the transaction

3. Definitions: Key terms used throughout the agreement including technical, commercial, and legal definitions

4. Gas Specifications: Technical specifications and quality requirements of the gas

5. Quantity and Delivery: Agreed volumes, delivery points, and nomination procedures

6. Price and Payment: Pricing mechanism, payment terms, and invoicing procedures

7. Term and Termination: Duration of agreement and termination provisions

8. Force Majeure: Circumstances excusing performance and related procedures

9. Liability and Indemnities: Allocation of risks and responsibilities between parties

10. Governing Law and Disputes: Choice of law and dispute resolution mechanisms

What sections are optional to include in a Gas Purchase Agreement?

1. Take-or-Pay Provisions: Minimum purchase obligations and related payment commitments

2. Transportation: Transportation arrangements and responsibilities when not covered by separate agreement

3. Carbon Credits: Treatment of carbon credits or environmental attributes when environmental considerations are relevant

4. Assignment and Transfer: Rights and restrictions regarding transfer of agreement rights and obligations

5. Credit Support: Requirements for guarantees or other financial security arrangements

What schedules should be included in a Gas Purchase Agreement?

1. Technical Specifications Schedule: Detailed gas quality specifications and measurement procedures

2. Delivery Points Schedule: List and specifications of agreed delivery points

3. Price Calculation Schedule: Detailed pricing formulae and adjustment mechanisms

4. Nomination Procedures Schedule: Detailed procedures for gas nominations and scheduling

5. Form of Performance Security: Template for any required guarantees or security instruments

6. Testing and Measurement Procedures: Detailed procedures for gas testing and volume measurement

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions