Paper: Elements of Gas Contracts

In discussing contracts for purchasing or selling gas, some emphasis should be placed on the various provisions of the agreement, but more so on the type of deal that has to be made in order to purchase gas, and on the parts of the contract which have a direct economic effect on the contracting parties. This emphasis should be made when one considers what a changing, dynamic business the energy industry now is. This is brought out now to emphasize how very important the matter of gas contracting is in today's business. Certainly, with the enormous sums of money involved in the purchase and sale of gas, the significance of the legal instrument covering that transaction must be recognized. It follows that there is an added importance in the measurement and accounting for the product being sold and for the proper operations under the contract.