QP Customers Angle for More Flexible LNG Contracts in Evolving Market
“As Qatar Petroleum readies its long-awaited expansion of the world’s largest offshore gas field, it is likely to face pressure from LNG buyers for more flexible contract terms in an increasingly competitive market QP has historically relied almost solely on oil indexation in its long-term contracts, but as global LNG markets increasingly commoditize and the use of benchmarks grows, Qatar’s commercial strategy has shifted, including greater use of the Japan Korea Marker,” reports Katie McQue in S&P Global.