LNG market has space for medium-term contracts, says Vitol executive

SINGAPORE : The liquefied natural gas market will see a growing need for medium-term and customised deals amid concern among some buyers about the price risks of long-term contracts and conflict with decarbonisation goals, an executive with global trading firm Vitol said on Thursday.

A disagreement over duration of contracts has been one of the key issues in talks to secure LNG supply from major producer Qatar to Germany, which is significantly counting on LNG as one of the means to phase out Russian gas. "All this makes it a more customised space in that transition. We’re seeing there is a role in the medium term as you transition from high spot prices to long term."

Everyone should boycott Vitol, until they stop shipping Russian oil.

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