LNG contracting activity through early August exceeded the amount during the same period in 2021 and is on pace to end the year at nearly 65 MMt/y.
To date, 43.25 MMt/y of sales and purchase agreements (SPAs) and nearly 16 MMt/y of heads of agreements (HOA) have been signed in 2022. Contract durations for deals signed in 2022 are also averaging longer than 2021.
Only 33% of 2021 deals were for 16 years or more compared to 82% of the deals done in 2022 to date. This is because the majority of 2022 contracts are in support of new US projects.
Source: Poten & Partners