The NAESB website states: “The North American Energy Standards Board (NAESB) serves as an industry forum for the development and promotion of standards which will lead to a seamless marketplace for wholesale and retail natural gas and electricity…” Though NAESB documentation for the purchase and sale of natural gas is undoubtedly helpful, the “seamless marketplace” remains aspirational.  To improve how you use NAESB Base Contract for Sale and Purchase of Natural Gas is the goal of this course led by GuyLaine Charles, a lawyer who works in this space.  With over 25 years of experience in financial services law including commodities, GuyLaine knows the NAESB inside and out.  She can make sense of the tough questions you may have.  The online NAESB course will be held in three short sessions (2.5 hours each) over one day.  There will be time between sessions to consider your own situation and pose new questions to GuyLaine and other course participants.    

In this course, you will learn:

  • the structure of NAESB Base Contract for Sale and Purchase of Natural Gas including the Canadian Addendum.
  • the provisions specific to natural gas and how they can be amended depending on where your client is in the chain. 
  • how to negotiate adequate assurance provisions to ensure your client is not subject to unbounded liability.
  • in what circumstances a party can declare a Force Majeure under a NAESB Base Contract for Sale and Purchase of Natural Gas.
  • how to negotiate for collateral provisions if required by or from your client.

Key Learning Objectives

  • Introduction of the 2006 NAESB Base Contract and its Credit Support Addendum and Canadian Addendum
  • Section-by-section review of the Base Contract and Canadian Addendum
  • Analysis of the Base Contract elections and the changes most commonly made in the special provisions

Key Details

Dates: TBA 2023
InstructorGuyLaine Charles
Price: $1195 + GST
Personal Development Hours (PDH): 7.5


ISDA/NAESB Suite: TBA 2023
Instructor — GuyLaine Charles
Price: $2195 + GST
Personal Development Hours (PDH): 15


Course Outline

Prior to the course, we will provide you with course material. However, for copyright reasons, Oak Leaf is unable to provide copies of the NAESB documentation. We therefore request that you please have the following documents in front of you during the course:

  • NAESB Base Contract for Sale and Purchase of Natural Gas
  • Canadian Addendum

Introduction – Purpose & Objectives of the NAESB Training Program

  1. Structure of NAESB Documentation
    • 2006 Base Contract (Elections and General Terms and Conditions), Special Provisions, Transaction Confirmation
    • History of NAESB Documentation (2006 versus 2002)
    • Canadian Addendum
    • Other industry documentation utilized for physical gas transactions
  2. Anatomy of the NAESB: Section-by-section review of the NAESB
  3. Elections on the cover page of the Base Contract
  4. Special provisions and commonly negotiated issues
  5. Canadian Addendum
  6. Practical exercises
  7. Closing remarks

Support Materials & Assessment Tools

Who Should Attend?

Testimonials and Course Rating

Excellent course and very informative. Got a lot out of the knowledge and will get further guidance in my negotiations by having the ability to refer to the booklet provided.
The presentation was very good, the instructor was very helpful to clarify questions.
All seemed relevant — the Olympics at the end was fun and going through the special provisions was really helpful.
I was so happy to see a NAESB specific course offered in Calgary – very applicable to my job. Thank you for putting on this course. The materials are extremely helpful.



Oak Leaf Energy Training offers oil and gas training courses and renewable energy courses across Canada –
Calgary, Edmonton, Ottawa, Regina, Vancouver and Toronto. For the time being, our courses are ONLINE.