Multiple U.S. LNG export projects could reach a final investment decision (FID) this year after a record stretch of supply contracting activity in 2022 that accelerated after war broke out in Ukraine.

In the year since Russia’s invasion, U.S. liquefied natural gas projects have signed over 30 sale and purchase agreements (SPA) with buyers looking to shield themselves from a volatile spot market. Last year was the busiest for U.S. contracting since exports started from the Lower 48 states. An investment boom could be around the corner. 

“The contracting activity that’s going on sure suggests that there is momentum toward FIDs for projects this year,” said Charlie Riedl, executive director of the Center for LNG, a Washington, DC-based trade group.

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