Abstract

LNG projects are capital intensives hence failure to develop an efficient risk management system may have adverse financial consequences. As risk management aims to reduce or avoid the impact of undesirable events by different means, legal and contractual mechanisms can also be used as means to address the risks involved in LNG shipping operations. This study seeks to outline some of the contract clauses which can best manage the respective risks. The aim is to broaden current knowledge of risk management and extend it to cover LNG shipping arrangements. The method used in this ...