April 7 (Reuters) - The liquefied natural gas (LNG) industry is undergoing fundamental change as record supplies become available, forcing producers to offer their buyers more flexible terms in order to retain market share.
Following months of rising pressure from big buyers in Japan, South Korea and China, major producers including Royal Dutch Shell, Woodside Petroleum, and BP said during a major industry event in Japan this week that they would allow more supply flexibility in future.
With supplies expected to outstrip demand in the coming years, many producers will sell excess cargoes into the spot market, while more contract flexibility means that utilities may also start selling more LNG.
See below the main stories covering the Gastech 2017 event in Chiba, outside Tokyo, this week: STORIES > Talk of Tokyo: LNG buyers to test group leverage > LNG sellers ready for more flexible contracts > LNG producers turn to trading, risk taking > Qatar rejoins the race for new LNG production > ExxonMobil starts offering new PNG LNG supplies > Ichthys to start shipping LNG in early 2018 > France’s Engie bets big on small-scale LNG demand > Nigeria LNG starts talking to buyers on contracts > Mitsui expects FID on Mozambique LNG in 2018 > India LNG demand to dip as power subsidy ends > Woodside considers fixed-priced LNG sales > Japan LNG buyers wary of fixed-price Tellurian > Supply gap may form in LNG after investment drop > China retail gas offers chances for foreigners > Japan’s JERA, Dubai’s DUSUP agree LNG tie-up > Novatek to start Yamal condensate output in 2017
Compiled by Henning Gloystein and Aaron Sheldrick