LNG Contract prices have fallen as the market grapples with the up coming over supply. However, rather than locking in more contracts, buyers are buying more LNG on a spot and short term basis. They are attracted by the flexibility of the spot market and prices which still look cheaper than contract. However this could create problems for the development of new supply. Are legacy buyers about to start underpinning the development of new LNG supply again and do IOCs have the appetite for new investment in LNG projects?