Atlantic SEE Says 20-Year US LNG Deals Are Harder as Hormuz Closure Chokes 20% of Supply
Updated
Updated · Bloomberg · Jun 11
Atlantic SEE Says 20-Year US LNG Deals Are Harder as Hormuz Closure Chokes 20% of Supply
2 articles · Updated · Bloomberg · Jun 11
Summary
Atlantic SEE LNG Trade said securing long-term LNG contracts from U.S. suppliers has become more difficult as the Iran war disrupts global gas flows.
The Strait of Hormuz closure has cut off about one-fifth of global supplies, intensifying competition between European and Asian buyers for U.S. cargoes and lifting spot prices.
That surge is making U.S. sellers more reluctant to lock in the 20-year agreements Atlantic SEE wants for its supply portfolio.
The setback complicates the Greek buyer’s push to expand Greece’s role as an LNG hub for the wider region.