Page 2 - சர்வதேச குழு ஆஃப் திரவமாக்கப்பட்டது இயற்கை வாயு இறக்குமதியாளர்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

U.S. oil major Chevron (NYSE: CVX) last month signed a liquefied natural gas (LNG) supply and purchase agreement with Hokkaido Gas for a half million tons of LNG from its global portfolio spread over a period of five years, starting from April 2022. Chevron said its new partnership will broaden its customer base in Japan, a market that is foundational to its overall LNG business. The new deal typifies how LNG markets in the Asia-Pacific region, home to around two-thirds of global LNG demand, are still undergoing systematic changes amid a prolonged supply overhang of the fuel. Buyers in the region have gained considerable contractual leverage over producers in the last few years. Instead of inking long-term 15- and even 20-year restrictive supply deals, more buyers are signing shorter-term deals, while also buying more cargoes on the spot market. This trend will continue as increasing numbers of long-term LNG contracts begin to expire, especially in Japan, by mid-decade.

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