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LNG: Europe Edges Away from Long-Term LNG Deals: Montel

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European buyers of LNG are signing fewer long-term deals amid anticipation of waning future gas demand, according to Total, cited by Montel.

  • “There’s obviously been a very clear trend of moving away from 20-year long-term contracts in Europe to being much more focused on the short term,” Mark Simons, head of gas and power trading origination said.
  • This was largely a reflection of waning gas demand in Europe, with consumers unwilling to lock in long-duration supply.
  • Nonetheless, such contracts remain prevalent in Asia.
  • “In Europe, the spot market rules, but in the global energy market I think there’s still a role to play for long-term contracts,” he said, noting 10 or 20-year contracts were “still prevalent, particularly in Asia,” he added.
  • Simmons added that while Europe was facing a long-term decline in gas demand, this was very much a local phenomenon.
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European buyers of LNG are signing fewer long-term deals amid anticipation of waning future gas demand, according to Total, cited by Montel.

  • “There’s obviously been a very clear trend of moving away from 20-year long-term contracts in Europe to being much more focused on the short term,” Mark Simons, head of gas and power trading origination said.
  • This was largely a reflection of waning gas demand in Europe, with consumers unwilling to lock in long-duration supply.
  • Nonetheless, such contracts remain prevalent in Asia.
  • “In Europe, the spot market rules, but in the global energy market I think there’s still a role to play for long-term contracts,” he said, noting 10 or 20-year contracts were “still prevalent, particularly in Asia,” he added.
  • Simmons added that while Europe was facing a long-term decline in gas demand, this was very much a local phenomenon.