Course 16 of 20 · LNG Desk Academy

Price Reviews & Commercial Renegotiation

Stage E, Structuring, resilience and integrated practice. Level 8 of 10.

Price review and renegotiation mechanics: trigger clauses, evidence assembly, arbitration exposure and settlement design.

118 chapters · 11 modules · every chapter one 8 to 10 minute explainer · builds on: Course 03, Course 05, Course 09

Enrol or enquire See the 118 chapters
How a chapter is sized

One chapter is one idea taken to the point of use

Each chapter is a single self-contained explainer of 8 to 10 narrated minutes, covering one idea to the point where you can use it.

Chapters run in order. Each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

11 modules · 118 chapters

Open any module for its full chapter list, in teaching order.

M0 Why Long LNG Contracts Reopen Ch 1-10
  1. The Twenty-Year Bargain and What It Assumes
  2. What Twenty Years Does to a Slope
  3. Why No Formula Survives Two Decades Untouched
  4. Who Carries Market Risk Between Reviews
  5. The Review as a Designed Safety Valve
  6. The Life Cycle of a Review, End to End
  7. Who Sits Around a Price Review
  8. What a Review Costs Before Anyone Wins
  9. A Price Review Is Not Force Majeure
  10. The Three Questions a Review Must Answer
M1 Anatomy of the Price Review Article Ch 11-21
  1. Reading the Review Article Cold
  2. Time-Based Triggers and the Window You Can Miss
  3. Condition-Based Triggers and the Threshold Test
  4. Two Triggers, One Contract: Which Governs
  5. The Notice That Starts the Clock
  6. What Price Applies While the Review Runs
  7. The Economic Equivalence Standard
  8. Market Value and Competitiveness Standards Compared
  9. When the Standard Says Almost Nothing
  10. Failure to Agree and the Route It Opens
  11. Retroactivity and the Effective Date
M2 The Changed-Circumstances Test Ch 22-31
  1. What Significant Change Has to Mean
  2. Reconstructing the Bargain at Signature
  3. The Baseline File Nobody Kept
  4. Proving Direction, Magnitude and Duration
  5. Structural Change Against Cyclical Noise
  6. Beyond the Party's Control
  7. Causation: From Market Shift to Price Harm
  8. The Foreseeability Objection
  9. The Self-Inflicted Change Objection
  10. Defining the Relevant Market for the Claim
M3 Assembling the Evidence Base Ch 32-43
  1. The Evidence File as a Commercial Asset
  2. Which Market Data a Tribunal Will Accept
  3. Documenting a Published Assessment's Provenance
  4. Comparable Contracts and the Confidentiality Wall
  5. Adjusting a Comparable to Your Own Terms
  6. Volume and Flexibility Adjustments to a Comparable
  7. Delivery Basis Adjustment Between Comparables
  8. The Netback Build as Review Evidence
  9. The Internal Documents You Will Hand Over
  10. Instructing the Market Expert
  11. Instructing the Quantum Expert
  12. Evidence That Cuts Against You
M4 The Claim and the Defence Ch 44-54
  1. Why the Claimant Carries More Than the Price Gap
  2. The Buyer's Case: Lost Competitiveness Downstream
  3. The Buyer's Case: Supply the Market Now Offers
  4. Choosing the Relief to Ask For
  5. The Slope Is the Price of Everything Else
  6. Project Finance as a Defence
  7. Attacking the Claimant's Comparables
  8. The Counter-Claim the Defender May Hold
  9. When the Seller Is the One Asking
  10. Building the Bundle You Will Exchange
  11. An Honest Case Assessment Before the Notice
M5 The Negotiation Ch 55-66
  1. Serving the Notice and the Signal It Sends
  2. The First Meeting and What It Settles
  3. Opening, Reserve and Walk-Away Positions
  4. Negotiating Against a Clause-Imposed Clock
  5. Controlled Disclosure During Negotiation
  6. Without-Prejudice Discipline on a Live Contract
  7. The Mandate the Desk Is Given
  8. Aligning Trading, Legal and Finance
  9. Reading the Other Side's Constraint
  10. Deadlock, Real and Manufactured
  11. Interim Arrangements and the Bridge Proposal
  12. Recognising That Negotiation Has Failed
M6 Arbitration Exposure Ch 67-78
  1. What Commencing Actually Changes
  2. The Tribunal's Mandate: Narrow or Broad
  3. Framing the Question Put to the Tribunal
  4. The Gateway: Is the Trigger Even Met
  5. Bifurcation and the Two-Stage Hearing
  6. Burden and Standard of Proof on a Review
  7. The Pleaded Case You Are Locked Into
  8. Document Production in a Price Review
  9. Witnesses Who Signed the Original Contract
  10. Expert Evidence in the Hearing Room
  11. Timetable, Cost and Management Time
  12. What an Award Can and Cannot Order
M7 Outcome Risk and the Award Ch 79-88
  1. The Outcome Neither Party Wanted
  2. Splitting the Difference and the Accusation of It
  3. The Award That Reprices but Solves Nothing
  4. The Award That Moves the Wrong Variable
  5. Retroactive Effect and the Cash Hit
  6. Interest, Costs and the Economics of Winning
  7. Living With an Award Until the Next Cycle
  8. Challenge and Enforcement in Practice
  9. The Review That Triggers the Other Side's Review
  10. Valuing the Arbitration Branch Against Settlement
M8 Settlement Design Ch 89-101
  1. Why Most Reviews Settle
  2. The Settlement Space Beyond the Slope
  3. Slope Change as a Settlement Instrument
  4. Constants, Floors and Ceilings in Settlement
  5. Reshaping an S-Curve as Relief
  6. Volume Reduction and Reallocation
  7. Term Extension Bought With Price Relief
  8. Lump Sums, Credit Notes and Rebates
  9. Destination Flexibility Given as Consideration
  10. Converting the Delivery Basis in a Settlement
  11. Rewriting the Review Machinery Itself
  12. Pricing a Mixed Settlement Package
  13. Documenting a Settlement So It Holds
M9 Relationship, Portfolio and Governance Consequence Ch 102-110
  1. The Relationship Consequence of Winning
  2. Goodwill You Will Need Next Quarter
  3. How Retaliation Actually Shows Up
  4. Portfolio Contagion After a Settlement
  5. Confidentiality, Precedent and a Market That Learns
  6. Who Owns the Decision to Escalate
  7. A Review Calendar Across the Contract Book
  8. A Standing Evidence Function on the Desk
  9. Putting a Revised Price Into the Book
M10 A Worked Review and the Limits of the Method Ch 111-118
  1. A Worked Review, Part One: The Trigger
  2. A Worked Review, Part Two: The File
  3. A Worked Review, Part Three: Positions Exchanged
  4. A Worked Review, Part Four: The Branch Priced
  5. A Worked Review, Part Five: The Settlement Signed
  6. A Worked Mirror Review From the Seller's Side
  7. What Price Review Cannot Fix
  8. Carrying the Capability Into the Rest of the Book

The brochure gives each of these 118 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 16 of twenty

It stands alone, and it is also the entry point to the LNG Desk Academy pathway.

Enrol or enquire See the whole pathway