LNG Corporate Service: 2019 in review
2019 was a year of records. As the oversupply pushed prices down to multi-year lows, new liquefaction project sanctions reached an all-time high at 71 mmtpa – driving much of the corporate activity from equity to contracting. The contracting market performed well in 2019 – with 90 Mtpa of concluded binding and non-binding LNG deals (on an ACQ basis). This is a result of portfolio players building their offtake portfolios – 80% of total volumes concluded in 2019 were linked to new projects.