Introduction

Long-term commitments have underpinned the development of gas infrastructures across the globe. Investment in capital intensive projects along the gas value chain (production facilities, LNG liquefaction plants, LNG regasification plants, pipelines or storages) have traditionally been realised thanks to the commitments undertaken by buyers or shippers to pay for the product or service provided over long periods of time, usually for decades. In Europe, natural gas markets are becoming more and more commoditised with market players focusing more on the short ...