Pricing up and down
A trend towards increased spot sales and more flexible contracts is keeping the global LNG industry on its toes
The rollercoaster ride in oil and liquefied natural gas prices since 2014 has shaken up previously staid LNG pricing mechanisms and contract terms. Buyer aggressiveness; the emergence of international trading companies as significant market participants; and the growing US role in LNG supply have all affected contract structures. But market participants say the evolution towards a world price for traded gas still has some way to run. Japan is the world's largest single LNG destination and the lynchpin of the Asia-Pacific LNG market, accounting for 73% of world imports, according to the International Group of LNG Importers. Since 2014, the spot price of LNG delivered to Japan has swung betwee
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