HOUSTON – U.S. liquefied natural gas producer Cheniere Energy Inc. on Thursday said high prices and an “extremely volatile” global market are driving more long-term contracts of LNG volumes.
The company, which is processing over 7 billion cubic feet (bcf) per day of natural gas, or about 7% of total U.S. production, believes that LNG storage in Europe and growth in Asia have been a “challenge” for gas markets.
Two thirds of all contracts signed by Cheniere in 2021 were with Asian buyers, 45% of which were from China, executive vice president Anatol Feygin said during the company’s earnings call.
(Reporting by Marcy de Luna)