LNG spot market on the rise

Qatar crisis has dealt a strong hand to Japanese utilities in talks reviewing long-term gas contracts with the top LNG exporter, likely accelerating a shift to a more openly traded global market for the fuel.

2017-06-12 views 724

LNG spot market on the rise

If Japan gets its way in the periodic contract review, the world's biggest buyer of LNG would have to import more short-notice supplies from producers such as the United States, another step away from rigid deals that run for decades towards a more active spot market. LNG volumes grew to 260 million tonnes last year from 250 million tonnes in 2015, with more than half coming from Qatar, Australia and Malaysia. Spot LNG trading made up 18 percent of supplies in 2016, according to the International Group of Liquefied Natural Gas Importers.

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