LNG: a fungible tangible
A shift away from big-budget projects to smaller-scale plants will fundamentally change the market
IT RIVALS iron ore as the world's second-biggest traded commodity - after oil - yet the liquefied natural gas trade remains opaque and illiquid. This is about to change, irking the supermajors that have monopolised the long-term point-to-point business for decades. LNG is coming of age as a commodity. Producers, who feared any change in the business model would lead to a drop in prices, have always resisted this. They insisted long-term oil-linked contracts were still needed to offset their huge investments in LNG. Only a year or so ago, Shell, ExxonMobil, Total, Chevron and BP, along with their national oil company (NOC) partners, controlled more than 95% of all LNG supply. A study by the I
Also in this section
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
22 April 2026
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
