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LNG Buyers Seeking More Flexibility in Long-term Contracts

LNG
  • LNG buyers are holding out for more flexible terms in long-term contract negotiations, according to Platts.
  • The long-term LNG contract market now looks like a buyers' market, with both Qatar and the US offering concessions to attract new customers and close deals.
  • LNG buyers are seeking shorter contracts, destination flexibility, and more flexible seasonal deliveries. LNG importers also want to cut the share of oil-linked long-term LNG in their portfolios and include more FOB volumes.
  • The Ukraine crisis briefly sent importers rushing to guarantee volumes through contacts, some as long as 27 years. However, once baseload requirements are satisfied via long-term contracts, buyers want to expand the flexible portion of portfolios.
  • Some buyers are also delaying signing new contracts until the post-2026 supply wave hits and lowers prices.
  • Decarbonisation regulation after 2030 and managing potential troughs in cyclical LNG prices are the main factors encouraging flexibility.
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