China’s LNG demand will grow by 11mn t this year, Wood Mackenzie forecasts
Asian LNG market embraces short-term contracts
Buyers are becoming less keen on being locked in for the long term amid a rapidly evolving market and rising demand
Asian LNG buyers—including a new crop of importers from China—are increasingly demanding shorter-term contracts that span just several years, but there is still a time and place for long-term contracting in the market despite increased spot liquidity, executives said at a June industry conference in Shanghai. “In the earliest stage of the LNG market, we saw more 20-25-year long-term contracts, but now requirements have changed, and some are saying they prefer three-to-five-year contracts,” Ma Shenyuan, a senior adviser to US LNG project developer Tellurian, told the China LNG & Gas International Exhibition & Summit. “Of course, there are still some Chinese buyers requesting five-to-t
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