Support in asserting a claim for a price review of a long term gas storage agreement.
The Course of Action
The essential project steps were:
- Conceptual discussion with the client and his legal representatives on the possibilities to justify a claim for a contractual review
- Analysis of publicly available data on the cost structure of storage facilities
- Comparison of the analysed cost structure with the contractual price provisions
- Statement that the contractual prices are in all probability significantly above the operating cost of the contracted storage facility. As a prima facie evidence, this finding was applicable as the basis of a claim for a contractual review.