Now is the wrong time to be contracting for US LNG

The global market can't support prices high enough to deliver returns

I’m more optimistic than most on medium-term US LNG export volumes, as price-sensitive demand typically emerges as LNG prices fall into the $6-8/MMBtu range. I’m far less sanguine about the long-run profitability of third-wave US LNG investments. That skepticism reflects both higher expected Henry Hub prices and a market that is misreading cyclically h…