Hoarding of capacity in LNG terminals by speculators is a known phenomena as well as the tendency by major energy companies to book for themselves capacity in a large number of regasification terminals in order to be able to direct their LNG shipments towards markets where spot prices are higher at any particular time. This prevents those entities that are interested to import LNG by use of the facility from doing so, since they do not own any of the available capacity. Anti-hoarding clauses are characterized by a considerable variety of specific provisions. They are mainly in the form of UIOLI with either an ex ante or an ex post effect. In an ex ante system, each slot that is not used by the capacity holder must be offered to the market. In an ex post system, the extent of unused slots is afterwards taken to indicate changes that need to be made for future capacity allocation: Should the terminal user that has reserved capacity on the terminal not use a certain amount of it for a certain period of time, the booked future capacity (or a part of it) will be lost
05.07.2009

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