In the global LNG market, a total of 30 new contracts were concluded in 2017, according to the annual report of the International Group of LNG Importers (GIIGNL).
The GIIGNL said that 23 long and medium-term sales contracts, with durations of over five years were concluded in 2017.
In addition, seven short-term contracts were signed with up to a four-year duration.
The longest contracts were signed between Australia's Woodside Energy and Indonesia's Pertamina for 20 years. The start date for exports is 2019 when Woodside will send around 0.6 million tonnes of LNG per annum to Pertamina.
In addition, Italy's Edison and the U.S. company Venture Global have entered into an agreement in which Edison will purchase one million metric tons of LNG per annum from the Calcasieu Pass LNG export facility, which Venture Global in Cameron Parish, Louisiana, in the U.S. is currently developing.
The remaining long-term contracts relate to importers; Japan, Taiwan and Pakistan and exporters; Qatar, Malaysia, Russia and the U.S.
- Short-term contracts
One of the short-term contracts signed between Qatar and Turkey for 1.5 million tonnes of delivery per annum started from 2017 for three years.
Japanese JERA and Taiwan's CPC signed a contract starting from 2018 to 2023 for a capacity of 0.3 million tonnes per year.
Spain's Gas Natural Fenosa and Puerto Rico's PREPA signed a 1.47 million tonnes LNG agreement for three years from 2017 to 2020.
In addition, four contracts were concluded for LNG cargoes. India's GAIL will receive 15 cargoes from Switzerland's Gunvor.
Indian state-owned gas company GAIL signed a deal in 2017 with Gunvor that is valid for 2018 only to swap U.S. LNG cargoes for shipments from other sources.
Also, the U.K.-based utility Centrica will supply between three and four cargoes of LNG per annum to Jamaica until 2020.
'Centrica will deliver as many as three cargoes to Jamaica in the first year, and up to four cargoes in the second year,' the report noted.
Furthermore, two more contracts concluded for multiple importer countries into global markets. The suppliers will be Woodside and Swiss Gunvor.
Qatargas and Poland's PGNIG increased LNG volumes from to Poland from 1.1 million tonnes to 2 million tonnes per year from 2018 to 2034.
According to calculations, more than 200 medium and short-term LNG contracts were in force by the end of 2017.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr