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Global LNG Contract Supplies Unavailable Until 2026: Japanese Industry Survey

LNG

Global under-investment in LNG capacity is expected to lead to more competition for new LNG supply contracts, while there are no new contracts for supplies available until 2026, according to a survey of Japanese companies by the Japanese Agency for Natural Resources and Energy.

  • Countries are scrambling to secure LNG deals from exporters such as Qatar and the US, but there is little new supply coming online before 2026.
  • So far this year, the US has dominated LNG supply contracts with 75% of the total contracts signed this year.
  • Europe is racing to replace Russian pipeline gas with LNG, further exacerbating the shortage.
  • If Russian gas were completely cut to Europe, the global LNG market could see a shortage of 7.6mn t of LNG by January 2026, the document shows.
  • Limited contract availability means that importers will be forced to depend on the spot market, which is currently trading around three times higher than long-term contract cargoes.
  • Around 30% of 2021 LNG deliveries were via the spot market, according to the International Group of LNG importers. Spot purchases could further increase this year, given the attempt by several countries to replace Russian gas.
Energy BulletsCommodities
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