There shall be no obligation to accept the highest or any bid
Clause often inserted in tender processes whereby the government states that it has no obligation to accept the highest bid from the financial point of view or any of the bids if none of them are found to be suitable
The obligations under this Agreement shall survive termination of the Agreement between the parties and shall be binding upon the Recipient’s heirs, successors and assigns for a period of five years
Surge; Upsurge; Gush; Hike; Rise; Energy prices rally; crude climbs above $x/bbl; gas tops $4/Mmbtu; natural gas climbing above; crude topping…; prop up oil prices; gas has rallied over 30%; (in prices)
Stock tank oil initially in place
STOIIP is the amount of oil believed to be originally contained in a reservoir
Storage installation for natural gas
Structures and installations shall not be demolished, detached, dismantled or removed from their site…
Slot method; Slot method for allocation of capacity in an LNG terminal
Method used in Belgium according to which the calendar year is divided into schedules for the berthing of the LNG ships. This is a method that hopes to maximize plant utilization. Rules have also been set up in Belgium to promote secondary trades of shippers to resell slots that are not going to be used. …
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