Following another attack on a major liquefied natural gas facility in Qatar, which has intensified global supply constraints, buyers and importers scrambled on Thursday to secure supplies from the United States.
According to informed sources, companies seeking to import LNG have directly contacted US fuel sellers, including producers or parties holding long-term offtake agreements. These sellers have access to supply from both existing projects and those under development, said the sources, who requested anonymity due to the private nature of the discussions.
The United States is the world's largest LNG exporter and plans to further expand its export capacity through multiple planned or under-construction projects. Discussions regarding potential US LNG supplies are still in early stages, and negotiations for any long-term contract terms will require time.
On Thursday, shares of several US LNG producers rose.
The war in Iran and the shutdown of the Qatari facility have driven up natural gas prices in Europe and Asia. However, US natural gas prices saw only a modest increase, as existing LNG facilities are already operating at or near full capacity amid abundant shale gas supply.
Comments