U.S. LNG export projects are supported by long-term sales and purchase agreements (SPAs) signed years before production begins. Long-term SPAs provide the revenue predictability needed for project financing today, while also providing the supply security and a predictable pricing formula critical to buyers. But how are those contracts changing amid the disruptions to the global energy market we’ve seen this year? In today’s RBN blog, we examine why long-term LNG contracting remains attractive and how the market is evolving as conditions change.
The NATGAS Appalachia weekly report provides the data and insights to monitor the northeast natural gas market’s twists and turns and identify the risks and opportunities along the way, including tracking supply-demand trends, outbound capacity and their impact on takeaway pipeline utilization, and regional prices.
As we noted earlier this year in What’s Left, the U.S. is at the tail end of an incredible wave of LNG expansion that has seen several new projects reach a final investment decision (FID) in a little over a year. But more important than the individual projects, the overall scale of the buildout coming is unprecedented. U.S. feedgas demand topped 20 Bcf/d for the first time in October thanks to the number of projects that are already online (blue layers in Figure 1 below), but capacity will climb significantly by the early 2030s given the number of projects that have reached FID or are under construction (green layers). As tracked in our LNG Voyager report, additional growth is possible later in the 2030s due to a number of projects we have classified as either Probable (yellow layer) or Possible (orange, red and purple layers).
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About the song
“I’ll Be There For You” was written by David Crane, Marta Kauffman, Michael Skloff and Allee Willis, with additional lyrics by Danny Wilde and Phil Solem. It appears as the 15th song on The Rembrandts’ third studio album, L.P. The evolution of the song is long and deep. It started off as a theme song for a new NBC sitcom, Friends, in 1994 and grew to major popularity through a series of flukes. Initially, the show wanted to use REM’s “Shiny Happy People” for the theme, but REM’s singer Michael Stipe rejected the offer. The producers then looked to the show’s creators and Los Angeles songwriter Allee Willis to compose a pop song inspired by The Beatles’ “Paperback Writer.” The Rembrandts were the only Warner Bros. act available at the time to record the song. When Friends first aired, nobody had any idea if the show or the song would become popular. Nashville DJ Tom Peace at WYHY looped a cassette of the song, creating a longer version, and after playing it, their phones rang off the wall with people wanting to know where they could buy the single. The Rembrandts then wrote another verse and bridge for the song, then recorded a longer version. Released as a single in May 1995, it went to #1 on the Billboard Adult Contemporary and #17 on the Billboard Hot 100 Singles charts. It has been certified Platinum by the Recording Industry Association of America. Personnel on the record were: Danny Wilde (vocals, bass, acoustic guitar, percussion), Phil Solem (vocals, electric guitars), Michael Skloff (Hammond organ) and Pat Mastelotto (drums).
L.P. was recorded at Rumbo Studios in Canoga Park, A&M Studios in Hollywood, Master Control in Burbank, and Funkytown in Minneapolis. Produced by Don Smith, Phil Solem and Danny Wilde, it was released in May 1995. It went to #23 on the Billboard 200 Albums chart, and has been certified Platinum by the RIAA. Four singles were released from the LP.
The Rembrandts are an American power pop rock duo formed in Los Angeles in 1989 by Danny Wilde and Phil Solem. The two had previously played together in the band Great Buildings in the early 1980s. They have released six studio albums, two compilation albums, and 14 singles. As a side note, your director of musicology first met the dynamic duo of vocalist/songwriters Wilde and Solem when my band, The Benders, opened shows for them in Los Angeles in 1981, when they fronted the band Great Buildings. Their sole LP, Apart From the Crowd, released on Columbia Records in 1981 and long out of print, is worth searching out. The Rembrandts' last release was the album Via Satellite in August 2019.
"About the Song" -- written by Mickey McMahan , RBN Director of Musicology
