Asian buyers’ reluctance to sign the long-term contracts that have traditionally underpinned big liquefied natural gas projects is causing a sharp slowdown in the LNG industry worldwide. A key reason for the standstill is the North American shale gas boom , which promises a cheaper alternative to existing supplies. Amid the uncertainty, LNG developments from east Africa to Canada are being held up, raising fears of a future shortage that could push up global gas prices. Philippe Sauquet, director of gas and power at Total , says buyers and sellers cannot agree on price. “A lot of projects today are still on the shelf because they have not succeeded in interesting long-term buyers,” he told the Financial Times. “Clearly there is a risk [they] won’t get built.” Asian buyers are showing a keen interest in potential exports of US shale gas, because it is indexed to Henry Hub, the […]