With the year half over, global LNG contracting activity remains strong, carrying momentum from 2022 and advancing both greenfield and expansion projects, particularly in the United States. 

Natural gas buyers across the world scrambled to secure stable long-term contracts last year and shield themselves from volatile prices on the spot market after Russia invaded Ukraine and upended energy flows. 

Through the first six months of this year, though, offtakers were as willing to make long-term commitments, agreeing to buy 27 million metric tons/year (mmty) of liquefied natural gas from global projects for 15-20 year terms. That compares with the 55.3 mmty signed over the same period of 2022.

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