The global market for LNG has turned from a buyer’s market to a seller’s market. The West’s push to diversify away from Russian gas has created a particularly tight LNG market. The market is likely to remain tight for years to come, or at least until the completion of new LNG hubs in Qatar and the United States. In just one year, the global market of liquefied natural gas (LNG) turned from a buyer’s market to a seller’s market, with LNG suppliers commanding a tight market as buyers scramble to secure gas from providers other than Russia. The European Union’s target to diversify gas supplies, speed up the roll-out of renewable gases, and replace gas in heating and power generation in hopes of cutting EU demand for Russian gas by two-thirds before the end of the year has created a global race for spot LNG supply. In this race […]