Contracts

Abaxx Tests Future of Physical Contracts in Quest for LNG Benchmark

Abaxx Tests Future of Physical Contracts in Quest for LNG Benchmark

As global natural gas market volatility continues to raise questions about the effectiveness of established futures benchmarks, Abaxx Technologies Inc. is pursuing a solution through physically-settled LNG contracts. Through a unit based in Singapore, Abaxx is preparing to launch physically-settled contracts for the three major liquefied natural gas markets: Northwest Europe, North Asia Pacific and…

January 30, 2023
QatarEnergy Signs 27-Year LNG Deal with China’s Sinopec

QatarEnergy Signs 27-Year LNG Deal with China’s Sinopec

QatarEnergy has clinched a 4 million metric ton/year (mmty) LNG supply agreement with China Petroleum and Chemical Corp., aka Sinopec, its first for the developing North Field East (NFE) expansion. The two firms signed the 27-year sale and purchase agreement (SPA) during a ceremony in Doha, marking the longest supply contract signed by a Chinese…

November 21, 2022
Mexico’s CFE Alleges Sweetheart Natural Gas Contracts Awarded Under Previous Regime

Mexico’s CFE Alleges Sweetheart Natural Gas Contracts Awarded Under Previous Regime

Mexico’s CFE International LLC (CFEi) is suing two of its former executives in a Texas court in relation to natural gas contracts awarded to a U.S. firm. CFEi is the international fuel procurement arm of state electricity firm Comisión Federal de Electricidad (CFE), and among the largest natural gas marketers in North America. CFEi is…

October 3, 2022
LNG Buyers Said Still Hunting for U.S. Volumes, but Project Costs, Complications Are Rising

LNG Buyers Said Still Hunting for U.S. Volumes, but Project Costs, Complications Are Rising

The market dynamics that have helped boost U.S. LNG export projects since the early spring are likely to continue, at least in part, but the next wave of terminal development will have added financing and inflationary hurdles, according to analysts with Poten & Partners. The Houston-based consultancy has been tracking a flurry of contracting and…

September 23, 2022
LNG Market Volatility Fueling Another Banner Year for Long-Term Contracts

LNG Market Volatility Fueling Another Banner Year for Long-Term Contracts

International liquefied natural gas (LNG) buyers could keep up the strong pace of new long-term contracts through the rest of the year as short-term volumes continue to grow more expensive, according to market analysts. Since the beginning of the year, buyers have secured over 22 million metric tons/year (mmty) of LNG by signing new deals.…

May 31, 2022
EQT Exploring Equity Stake in LNG Export Capacity, Deals With Overseas Gas Buyers

EQT Exploring Equity Stake in LNG Export Capacity, Deals With Overseas Gas Buyers

EQT Corp. is in discussions with multiple liquefied natural gas (LNG) end-users across the world and may invest in liquefaction capacity as the call for U.S. exports grows.  The country’s largest natural gas producer already sells volumes to U.S. export terminals. It moves 1 Bcf/d from the Appalachian Basin to the Gulf Coast. However, the…

April 28, 2022
Mexico’s CFE in Dispute with WhiteWater Midstream Over Natural Gas Contracts

Mexico’s CFE in Dispute with WhiteWater Midstream Over Natural Gas Contracts

Mexican state utility Comisión Federal de Electricidad (CFE) said it is looking into possible corruption related to natural gas contracts with WhiteWater Midstream LLC. CFE said that natural gas contracts signed in 2016 and 2017 under the previous Mexican administration are under investigation on both sides of the border for potential corrupt practices including influence…

July 20, 2021
Global LNG Buyers Said Looking to ‘Bridge’ Current Supply Crunch with Short-Term Contracts

Global LNG Buyers Said Looking to ‘Bridge’ Current Supply Crunch with Short-Term Contracts

Global liquefied natural gas (LNG) buyers, hammered by high spot prices in Asia, are increasingly looking to short-term “bridge” contracts to ensure ample supply until demand is expected to cool down later this decade, according to an analysis by Wood Mackenzie. Asian spot prices are hovering around $12/MMBtu for June and July delivery as demand…

June 15, 2021
Era of Long-term LNG Contracts in India Over, Says Gail Exec

Era of Long-term LNG Contracts in India Over, Says Gail Exec

India’s liquefied natural gas (LNG) buyers have grown frustrated with the long-term offtake contract model and are pressing U.S. sellers for more flexible terms, a Gail India Ltd. executive said Wednesday. Since prices cratered last year amid weak demand driven by the pandemic, customers have grown used to paying lower prices for delivered gas, said…

March 5, 2021
Freeport LNG CEO Questions Growing Reliance on Spot Cargoes After Volatile Winter

Freeport LNG CEO Questions Growing Reliance on Spot Cargoes After Volatile Winter

The cold snap earlier this winter in Asia and Europe that sent prices skyrocketing and buyers scrambling for liquefied natural gas (LNG) cargoes was an indication that the global market is becoming too reliant on spot deliveries, said Freeport LNG CEO Michael Smith.  “There’s been an overreliance on spot cargoes in our industry,” he said…

March 4, 2021
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