Insight
LNG19 conference in Shanghai: review of contracting activity
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Report summary
LNG 2019 took place last week in Shanghai 1 to 5 April. The timing and location of this LNG specific conference could not have been better with China playing the central role in global LNG growth. Detailed in this insight is a review of the numerous contracts signed during the conference, together with some conference overview notes from our Wood Mackenzie speakers along with links to their presented papers. A number of companies used the conference as a platform to announce new LNG contracts - six in total - while three more contracts were signed elsewhere this month. Over half these contracts will support projects looking to take FID in 2019 and 2020. However, US-China deals were a notable absentee as were Henry Hub linked contracts from recent signings. Yet, novel contracting themes are emerging such as Shell signing a coal linked contract with Tokyo Gas. We give our our take on this and all other recent contracts within.
Table of contents
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New LNG contracts announced ..but US-China deals a notable absentee
- Shell – Signs Brent-indexed SPA for 2 mmtpa from Next Decade's Rio Grande LNG
- Total – Increases equity stake both in Tellurian and Driftwood and procures 1.5 mmpta offtake
- Total - Signs 10-year SPA with Guanghui
- Shell-Tokyo Gas - Fight coal with coal-linked contracts in Japanese power struggle
- Woodside - Signs HOA with China’s ENN Group to underpin Scarborough development
- NOVATEK - Signs two HOAs from portfolio, including from Arctic LNG-2
- PNG LNG – Signs SPA with Unipec Singapore (subsidiary of Sinopec)
- JERA contract LNG Canada volumes from Mitsubishi subsidiary
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