Shell’s GTCs are widely used in the energy industry, and understanding the Shell 2023 GTCs will be of critical importance to producers, consumers and traders.

The Shell 2023 GTCs have been published in five different versions, addressing respectively:

• FOB deliveries;
• CIF and CFR deliveries;
• DAP deliveries by vessel;
• Ex Tank, Into Tank, In Situ (stock transfer) and Free Into Pipeline deliveries; and
• road tanker and rail tank car deliveries.

There have been some important developments to a number of clauses in the GTCs, including the operational procedures, payment and force majeure clauses. Explanatory diagrams have been included in the Shell 2023 GTCs to illustrate certain provisions.

This alert seeks to provide a useful, quick-reference guide to some of the key differences between Shell’s 2010 and 2023 GTCs. A ‘traffic light’ system has been provided to guide the reader, from the most significant to the least significant changes. This guide is not a substitute for legal advice on the terms of the Shell 2023 GTCs as they may affect any person, including in connection with any specific transaction.

Download the reference guide below.

Client Alert 2023-264