Price review arbitration in the Asian LNG markets—‘‘The times they are a-changin’’

This article will focus on price review clauses in Asian LNG markets from the point of view of price review arbitration and the jurisdiction of the tribunal. The basic conclusion reach is that there is no simple answer but that various considerations speak in favour of establishing the jurisdiction of arbitral tribunals in respect of gas prices. The background to the article is a number of gas price arbitrations that have been initiated in Asian markets and the assumption that these early cases will be followed by many more. One of the questions raised in this context is jurisdiction of the tribunal.