Let’s get something straight: its called “Take OR Pay” not Take AND Pay”. This means that if CNOOC cannot take the cargoes for whatever reason, they only have to pay for them and the vessels go somewhere else. Where? In a DES deal that is the seller’s problem. Of course, it’s hard to pay for something that you cannot take but there are usually Make Up rights. Question is – will CNOOC ever be in a position to use them? That’s a bad situation for CNOOC but it was clearly stated in the contract when they signed it. That will be funny fighting but the result must be clear to all of us.
Rudolf Huber was featured in those quality publications
SUBSCRIBE TO THE NEWSLETTER
Fun – information – intrigue – whats your reason for reading my updates?
They also spawn like rabbits. Tired of chasing them down all over the net? I can take away your pain.
Subscribe to my newsletter and every Tuesday, you get a list of all updates plus a full feature article and a collection of Natural Gas prices. It’s easy, it’s free and I promise it will entertain/rile you.
Attention: you will receive a confirmation mail. If you have not received it some time after you pressed the “Sign me up” button, check your spam folder.
All information published on this Web service is for instructional and educational purposes only. It doesn’t mean to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Please read the Terms of Service for further information.
Also read the Code of Conduct page for information on required online manners.