The expected growth in the global LNG market in the coming years will mean buyers can do without long-term contracts, leading industry players said late Tuesday at the Flame conference in Amsterdam. Instead, with growing volumes of spot LNG available, buyers can either look to shorter-term contracts or the spot market to meet their needs. Charif Souki, chairman at US LNG developer Tellurian Inc., said long-term contracts in the LNG sector would soon be a thing of the past. “The market has become sufficiently liquid today that a buyer does not need to enter into a long-term contract,” Souki — who was the founder of US LNG pioneer Cheniere Energy — said. He said that in the next two years, some 20 cargoes would be available every day on the spot market, or 5,000 cargoes a year. “You’re never very far from a cargo,” he said. “There is no […]

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