In 2015, the weak market environment and the impending LNG supply glut forced companies to adjust strategies and tactics. Buyers were increasingly uncertain of their demand requirements and exercised more caution in contracting. Sellers had thus started to look further afield to emerging markets in Middle East/Africa and new buyers in Asia. At the same time, the interest in Europe grew as both buyers and sellers looked towards a liquid market in anticipation of a wave of new supply. The impact of low oil prices was particularly acute on the LNG sector as the price of contracted LNG fell in line with oil, which capped the price of spot LNG delivered into Asia.
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