Cheniere Pitches Flexible LNG to Europe as Novatek Flags Long-Term Supply Gap

Overview

• Cheniere executive Anatol Feygin said the company stands ready to support European clients with flexible cargoes as the bloc moves to phase out Russian LNG.
• CEO Jack Fusco noted that about 66% of Cheniere shipments in recent years went to Europe and that the company holds roughly 24 million tonnes of contracts with EU counterparties.
• The EU’s 19th sanctions package bans Russian LNG under short-term contracts from April 25, 2026 and under long-term deals from January 1, 2027, covering purchase, import and transfer.
• Feygin said about 11 million tonnes of Russian LNG have reached Europe so far this year and suggested those volumes will find markets even if Arctic project utilization proves lower.
• Novatek’s Leonid Mikhelson forecast global LNG demand rising from about 405 to 720 million tonnes by 2050, warned that announced US and Qatari projects cover only about 150 million tonnes, and pointed to Arctic and Alaskan developments as potential sources to close the gap while questioning whether US supply can fully meet growing EU needs.