Natural Gas
Market overview
Natural gas reaches the buyer by two routes that form different markets. By pipeline, trade is regional and depends on access to the transmission network. As LNG — gas liquefied at around minus 162 °C — it travels on LNG carriers and returns to its gaseous state at regasification terminals, which makes it a global market. Price benchmarks reflect that split: Henry Hub in the United States, TTF in Europe and JKM in Asia, as well as oil-indexed contracts. In Brazil, the New Gas Law opened room for new suppliers and for free consumers.
Trading forms
We cover pipeline supply contracts and LNG deals, as spot cargoes or medium- and long-term contracts. For LNG, the usual bases are FOB at the liquefaction terminal or DES at the destination terminal; for pipeline gas, the delivery point on the network defines the deal. Price indexation, volume flexibility and delivery windows are the terms that weigh most in the negotiation.
Counterparty sought
On the buy side, distributors, gas-fired power generators, industrial consumers and traders with confirmed access to infrastructure — a regasification terminal, transport capacity or a defined delivery point. On the sell side, producers, LNG portfolio players and traders with allocated volume. In gas, infrastructure comes before price: without an identified terminal or delivery point, there is no deal to introduce.
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