This paper examines the use of arbitration for resolving disputes about price formulae in contracts regarding long-term gas supply agreements. Arbitration is preferred because it results in binding awards enforceable under the New York Convention. However, arbitrators frequently treat the dispute as adversarial and put significant weight on the technical language of reopener clauses. A closer look at the nature of gas price disputes and their contractual underpinnings suggests that standard arbitral process and values are inappropriate. Reopener clauses are tools of co-operation designed to preserve the original bargain over a long period of time. They are typically drafted in a context of significant uncertainty about future economic trends and neither of the parties are at fault for failing to agree how to apply their contract to the facts surrounding a price review. Another process is needed which emphasises the distinctive nature of gas price arbitration. A possible solution arises in the form of "conciliation-arbitration". Conciliation- arbitration is a process where arbitrators deliberately attempt to encourage settlement through informal evaluation of the dispute, and only use standard adversarial processes if parties still fail to reach settlement. Conciliation- arbitration poses nominal ethical risks that are managed by giving parties the power to opt out at the end of the conciliatory stage. Not every arbitral regime will permit use of this process but the decision should be one for the parties to make.

This book shares the latest market developments and advances in natural gas demand, supply, transmission, distribution, and consumption, with a special emphasis on the Indian context. Chapters are written by researchers and industry professionals working in the field of natural gas and energy to provide deeper insights into natural gas market structure, market development, business opportunities and market growth. Topics covered include, natural gas demand-supply, exploration and production policy, downstream regulatory developments, city gas distribution, pipeline, pricing, and taxation policies impacting natural gas market developments in India. The book will be useful to researchers, professionals, and policy makers working in the area of natural gas and related fields.

Oil, Gas, and Mining: A Sourcebook for Understanding the Extractive Industries provides developing countries with a technical understanding and practical options around oil, gas, and mining sector development issues. A central premise of the Sourcebook is that good technical knowledge can better inform political, economic, and social choices with respect to sector development and the related risks and opportunities. The guidance provided by the Sourcebook assumes a broad set of overarching principles, all centered on good governance and directed at achieving positive and broadly based sustainable development outcomes. This Sourcebook is rich in presenting options to challenges, on the understanding that contexts and needs vary, and that there is much to be gained from appreciating the lessons learned from a broad set of experiences.