All the gas produced from Vali will go to AGL for 4.5 years. How they will price the gas is not clear, but there appears to be an exposure to the market price.
From VEN's announcement on 23 March 2022:
'Gas produced during the production appraisal is to be sold to AGL on a mix of firm and variable pricing at market rates'
From VEN's June quarterly report:
'...monthly sales revenue generated from Tranche-1 sales under the GSA will comprise a minor non-cash element, for which cash has already been received through the pre-payment, and a major, cash element. Tranche-2 pricing, which is 100% payable in cash, will be applied to gas supplied in excess of the monthly base supply volume'.
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