For years now, the international LNG trade has been based primarily on long-term contracts between buyers and sellers, and those deals have been indexed to oil prices. That long-standing regime is now tottering, however, and a New World Order that would add considerable flexibility to LNG trading—and increase the role of the LNG spot market—may be in the offing. That would have huge implications for U.S. natural gas producers who want to export increasing amounts of liquefied gas. Today, we begin an examination of market forces reshaping how LNG is bought and sold worldwide, and why that matters to those active in the Marcellus, the Barnett Shale and other major plays.
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