Key Global LNG trends
- 12% Growth in LNG production in 2017 produced an abundance of supply
- A buyers’ market drove innovation and creativity on the seller side — e.g. LNG-to-Power projects and FSRUs
- But worldwide GDP growth and higher oil prices in 2018 are increasing LNG demand, leading to a need for increased investment and a heightened focus on launching new projects in order to avoid a shortfall in 2020-2024.
- The search for creditworthy buyers with volume will continue, particularly in Asia
- Renewables and LNG can partner together to achieve countries’ and companies’ clean energy goals
- Buyers are seeking new business and contractual models to match their business objectives
Partner in the Washington D.C. Office
“Some have suggested that the era of long-term LNG supply contracts is over, because buyers can buy LNG in the spot market. We do not agree. In our work around the world, we see continuing interest by both buyers and sellers in the security and financeability that long-term contracts provide.”
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Mr. Miles serves as Baker Botts’ Energy Sector Chair and also heads the 50+ lawyer LNG practice at Baker Botts. He has worked on over 100 major LNG transactions worldwide. From drill bit to burner tip, the firm offers its LNG industry clients integrated service and in depth capabilities across the value chain. This breadth and depth of experience enables the firm to help its clients launch some of the LNG industry’s most innovative projects.
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