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FAQs on transaction reporting – Question II.3.4.6

Regarding contracts with a joint venture of producers of certain fields, it could be the case that there are separate contracts with each of the parties participating in that field, but that invoicing is done with only one partner, often referred to as ‘the operator’ of the field. Do we have to report one execution on the basis of this invoice and refer to only one of the contracts’ IDs, or do we have to report the invoice as many times as the number of counterparties to contracts related to the same field? In the latter case, do we have to report the same amount multiple times.


Answer:

Where there are separate contracts with each of the parties participating in that field, those contracts should be reported separately, allocating the delivered volume to the respective contracts (counterparties) and report as many transactions as the number of counterparties to contracts related to the same gas field.

Last update: 26/09/2016   RSS_Icon Subscribe to this Page’s RSS