Last year saw a flurry of litigation in Texas state and federal courts arising from the February 2021 extreme cold weather event known as Winter Storm Uri and whether it constituted a force majeure event under the terms of natural gas contracts. With the one-year anniversary of Winter Storm Uri upon us, and with many of these cases still winding their way through the courts, prudent players within the natural gas supply chain should conduct a review of their natural gas contracts to prepare for future adverse weather events. There are key considerations legal departments in the natural gas sector must consider when reviewing their company’s NAESB contracts.
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