Commodity: Liquefied Natural Gas (LNG)
Quality: GOST 5542-82
Packaging: In Bulk
Quantity: 400,000 MT per month x 60 months with roll over
option for further 60 months
Delivery CIF: CIF ASWP Port
Price: Price per MT Fixed for 12 months based on ICE
Brent price per MT
less Discount of 12.5% and then reset for further
12 months yearly with a new Fixed price based
on the then current ICE Brent price per MT less
Payment: Irrevocable, Non-Operative, Non-Transferable,
Revolving Documentary Letter of Credit (IRDLC)
to Seller’s nominated Bank Account covering
100% Pro-forma Invoice Value of product through any of the Top 50 Prime World Banks payable at sight against Shipping Documents at Loading Port.
PB: Seller issue Operative 2% Performance Bond via SWIFT to Buyer’s Bank, which in sequence makes the Buyer Payment Instrument operative.