UK High Court Interprets JKM-TTF Pricing Clause in US$29 Million LNG Charterparty Dispute
The dispute arose from a five-year LNG charterparty under which hire was linked to the spread between the JKM and TTF LNG price indices. After market conditions shifted dramatically in 2022 and TTF began exceeding JKM for sustained periods, the Court examined how the contractual pricing formula was intended to operate in those circumstances.