Related Articles
Forward article link
Share PDF with colleagues

Asian LNG buyers in command

The region’s biggest importers want cheaper supplies

WHEN oil prices were high and liquefied natural gas supplies tight, buyers had no choice but to sign up for high-priced gas arranged through fixed long-term supply deals. Now Asia’s biggest buyers want cheaper supplies and more flexible terms. Exporters have little choice but to comply. CNPC’s boss Wang Yilin said in March that his firm even wants to renegotiate the terms of its LNG supply deal with Qatar. The company signed a 25-year supply deal with Qatargas and Shell for 3m tonnes a year of LNG. That was in 2010, when buyers needed nous just to find spare supply. Yilin did not say whether the deal would allow for a price review. But LNG is abundant these days, and exporters are having t

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Malaysia awards another offshore block to Shell
29 July 2021
The major has been awarded another block by NOC Petronas, but government involvement remains vital
Shell greenlights Whale venture
29 July 2021
Gulf of Mexico FIDs may be waning, but latest approval shows they can still be viable
Governments in race to unlock potential of CCS
29 July 2021
Policymakers must ensure key technology for reaching net-zero sustains momentum over the next decade
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video