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High prices, volatility driving more long-term contracting of U.S. LNG

by Mike Robinson

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© Reuters. FILE PHOTO: A sign of U.S LNG company Cheniere is seen at the registration counter at the International Conference & Exhibition on Liquefied Natural Gas (LNG2019) in Shanghai, China April 1, 2019. REUTERS/Stringer

HOUSTON, (Reuters) – U.S. liquefied producers Cheniere Energy (NYSE) Inc. said Thursday that high global prices and a “extremely volatile market” are driving longer-term LNG volume contracts.

Company, which processes more than 7 billion cubic feet per day of natural gaz, about 7% of the total U.S. output, says that growth in Asia and LNG storage in Europe have presented a problem for the gas market.

Cheniere signed two thirds of its 2021 contracts with Asian buyers. 45% were from China. Analyl Feygin, the executive vice president of Cheniere, stated during an earnings call.

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