Demand for long-term LNG contracts has increased sharply in the current year, with suppliers taking advantage of robust demand thanks to a global effort to cut Russian imports by demanding much higher rates for new long-term contracts. According to an Oil & Gas Journal report, 10-year LNG contracts are currently priced at ~75% above 2021’s rates, with tight supplies expected to persist as Europe aims to boost LNG imports. Meanwhile, volatile spot prices and a worsening supply outlook have triggered a rush by importers to negotiate long-term deals as they attempt to lock in prices. Last year, the volume of ... (full story)