Common use of Gas Price Clause in Contracts

Gas Price. (a) The Sales Gas Price in (USD/mmbtu) payable by the BUYER to the SELLER shall be calculated as follows: “Sales Gas Price” will be calculated on a monthly basis “Average ▇▇▇▇▇ ▇▇▇▇▇” for any month shall be calculated as the arithmetic average (upto 3 decimal places) of the mean values of the high and low assessments of the benchmark crude oil “Dated ▇▇▇▇▇” (Platts Code: PCAAS00) as published in “Platts Crude Oil Market Wire” in United States Dollar (“USD”) per barrel for each Day “Platts LNG WIM” for any month shall be equal to the value of DES West India up to three (3) decimal places published under the category “Previous month average” below the heading “Daily Cumulative Averages and Monthly Averages” [Platts Code AAWIC03] in United States Dollar (“USD”) per MMBTU on GCV basis under the S&P Global Platts LNG Daily available for the last publication day of the month immediately preceding to the month during which Sales Gas shall be delivered. For example, the Platts LNG WIM for the month of April 2023 can be referred to in the Platts LNG Daily Report dated 31st March 2023 under “Previous month average”; (b) The above price shall be converted to INR /MSCM at RBI reference exchange rate of the month previous to the month during which supply of gas is made. The RBI exchange rate of the month would be calculated by taking the average of the RBI reference exchange rates for all days in the relevant month for which the rate is available on the RBI website. (c) The formula for calculating the Gas price would be as below: Gas Price (INR / MSCM) = [Sales Gas Price * 3.968254 * GCV * Exchange rate]/1000 Where

Gas Price. (a) The Sales Gas Price in (USD/mmbtu) payable by the BUYER to the SELLER shall be calculated as follows: “Sales Gas Price” will be calculated on a monthly basis “Average ▇▇▇▇▇ ▇▇▇▇▇” for any month shall be calculated as the arithmetic average (upto 3 decimal places) of the mean values of the high and low assessments of the benchmark crude oil “Dated ▇▇▇▇▇” (Platts Code: PCAAS00) as published in “Platts Crude Oil Market Wire” in United States Dollar (“USD”) per barrel for each Day The Sales Gas Price shall be subject to a Floor Price of PPAC price for non- nominated fields for the relevant month(Domestic Natural gas price for the relevant month notified on PPAC website in accordance with MoPNG’s notification no. L-12015/2022-GP-II) dated 7th April 2023) “Platts LNG WIM” for any month shall be equal to the value of DES West India up to three (3) decimal places published under the category “Previous month average” below the heading “Daily Cumulative Averages and Monthly Averages” [Platts Code AAWIC03] in United States Dollar (“USD”) per MMBTU on GCV basis under the S&P Global Platts LNG Daily available for the last publication day of the month immediately preceding to the month during which Sales Gas shall be delivered. For example, the Platts LNG WIM for the month of April 2023 2024 can be referred to in the Platts LNG Daily Report dated 31st March 2023 2024 under “Previous month average”;; For avoidance of doubt, if calculated sales Gas price is less than Floor Price then the Floor price shall apply. Else, the calculated sales Gas price shall apply. If calculated sales Gas price is more than ceiling price then the ceiling price shall apply, else calculated sales Gas price shall apply. In the case where the ceiling price is less than floor price, the floor price shall apply. (b) The above price shall be converted to INR /MSCM at RBI reference exchange rate of the month previous to the month during which supply of gas is made. The RBI exchange rate of the month would be calculated by taking the average of the RBI reference exchange rates for all days in the relevant month for which the rate is available on the RBI website. (c) The formula for calculating the Gas price would be as below: Gas Price (INR / MSCM) = [Sales Gas Price * 3.968254 * GCV * Exchange rate]/1000 Where