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Oil Linked Long-Term LNG Contract Prices Continue Fall: Platts

LNG

Long-term LNG contract prices of around 12% indexation to Brent should continue to fall as current offers are comparable to contracts signed in 2017-19, according to Platts.

  • "As we swing into a buyers' market, concessions from suppliers in the form of lower prices and additional flexibility will once again be needed to secure long-term contracts with buyers in Asia," Zhi Xin Chong, senior director at Platts said.
  • Asian LNG buyers are negotiating lower prices for long-term LNG contracts, given the expectations of LNG oversupply.
  • Buyers in emerging markets have often secure lower-priced LNG contracts, and it is likely there is a price premium applied to traditional buyers, Platts said.
  • Chong said that the current contracting environment is characterized by an over-investment cycle with almost 200m mt of LNG to be added via new projects by 2030. In similar cycles, prices have weakened by 1.5-2% compared to previous periods.
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