Surge in LNG contracting activity as US projects advance

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.

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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