Contracts

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
ICE to Launch LNG Freight Futures Contracts in Another Effort to Manage Increasing Market Volatility

ICE to Launch LNG Freight Futures Contracts in Another Effort to Manage Increasing Market Volatility

Intercontinental Exchange Inc. (ICE) said Wednesday it plans to launch two liquefied natural gas (LNG) freight futures contracts next month, giving traders, vessel charterers and other market participants another tool to manage increasingly volatile shipping costs in the space. ICE said the contracts would be based on LNG freight spot price assessments by Spark Commodities,…

February 10, 2021
Commonwealth LNG Launches Competitive Bidding to Jumpstart Louisiana Export Project

Commonwealth LNG Launches Competitive Bidding to Jumpstart Louisiana Export Project

Commonwealth Liquefied Natural Gas (LNG) has launched a tender soliciting bids from potential offtakers that could acquire supply from the proposed project in Louisiana at volumes, pricing and durations of their choosing.  The company is aiming to accelerate the supply contracting process by offering more flexibility. Offtakers could buy on a tolling, free-on-board (FOB) or…

January 19, 2021
Williams Given Approval to Resolve Chesapeake Midstream Contracts

Williams Given Approval to Resolve Chesapeake Midstream Contracts

Natural gas pipeline giant Williams has received a past-due payment of $112 million from Chesapeake Energy Corp. after a court approved a resolution between the two companies last month as part of the producer’s bankruptcy proceedings. The Tulsa-based pipeliner reached a global resolution in November to continue treating and moving Chesapeake’s natural gas in the…

December 18, 2020
LNG 101: The Thorny Process of Renegotiating LNG Supply Contracts

LNG 101: The Thorny Process of Renegotiating LNG Supply Contracts

Editor’s Note: The following segment is one in a series by NGI’s LNG Insight aimed at educating the North American market about the global liquefied natural gas (LNG) trade. Naturgy, one of Spain’s major natural gas buyers, said last week it has negotiated new terms for two contracts with one of its primary LNG suppliers…

October 8, 2020
ICE Reports Steep Gains in Trading of Worldwide Natural Gas Contracts

ICE Reports Steep Gains in Trading of Worldwide Natural Gas Contracts

The Intercontinental Exchange (ICE) said Wednesday that it continues to see record levels of open interest across its Asian, European and North American natural gas benchmarks as worldwide trade of the fuel has liberalized.

May 20, 2020
COLUMN: An Explanation of Shipping, LNG’s Pipeline on Water

COLUMN: An Explanation of Shipping, LNG’s Pipeline on Water

You need some serious tonnage to move vast quantities of super-chilled natural gas from one continent to another. The massive ships used to transport liquefied natural gas (LNG) add another element to the export trade that can’t be overlooked for those who want to better understand the market.

May 1, 2020
Global LNG Production Remains Resilient Despite Coronavirus, Falling Prices

Global LNG Production Remains Resilient Despite Coronavirus, Falling Prices

Despite prices that have cratered since last year and a steep cut in demand caused by the Covid-19 pandemic, global liquefied natural gas (LNG) supplies remain resilient and cargoes are still being delivered.

April 21, 2020
Asia Utilities Renegotiating Long-Term LNG Contracts for Flexibility

Asia Utilities Renegotiating Long-Term LNG Contracts for Flexibility

Tokyo Gas, Japan’s largest natural gas utility, is joining like-minded gas importers and plans to renegotiate long-term liquefied natural gas (LNG) contracts to remove restrictive destination clauses and increase flexibility.

October 1, 2019
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