A gas sale agreement (GSA) is the key agreement documenting the sale and purchase of a quantity of natural gas.
This standard document GSA provides for one seller and one buyer and is drafted from a neutral point of view. It assumes that deliveries of gas will be made by pipeline and the seller will dedicate all gas produced from its interest in a field to the buyer. The GSA is a buyer-nominations contract and includes a take or pay commitment for the buyer.
For an overview of the key contractual terms which form part of any GSA, the distinction between depletion-based and supply-based GSAs, and other related issues, see Practice note, Gas sale agreements: key issues for drafting, reviewing and negotiating.
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