New International AIPN Oil and Gas Farm-Out Agreement

In June 2019, the oil and gas industry body, the Association of International Petroleum Negotiators (AIPN), published a revised version of its model form international farm-out agreement. The publication of this new model form agreement is a reflection of the increased sophistication, and continuing evolution, of the farm-out market. Like the predecessor 2004 model form, the new 2019 version of the agreement deals with the transfer of a portion (but not all) of the ownership (known as a “participating interest”) in an upstream oil and gas asset from one party to another. The updated version...

Battery Storage –Powering Future LNG Projects (including FLNG)

It is undeniable that a low carbon transition is taking place. One of the leading forces of this transition is battery storage. Battery storage technology that was, only a couple of years ago, immature and expensive is now beginning to show significant cost competitiveness, particularly over the last year. The most common choice of battery storage technology to date has been lithium-ion. Latest research undertaken by Bloomberg NEF showed that the benchmark levelised cost of electricity (LCOE) for lithium-ion batteries has fallen 35% since the first half of 2018. With technology improving and...
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