10 Key LNG Lessons From the4 Pandemic – Liquefied natural gas (LNG) has always been a commodity business at its core, but it has historically been an oddity of the commodity markets because so much of the industry was constituted by bi-lateral fixed trade with extensive legal documentation and long agreement tenors. However, the commoditization of LNG trade has created new dynamics for the market that are being tested in novel ways by the demand destruction of the coronavirus. The market whipsaw by the pandemic is more akin to LNG’s older brothers (i.e., the oil and gas markets) than its contractual infrastructure/project finance roots. To help make sense of these new dynamics, we have attempted to highlight ten key lessons and observations for investors – Evercoe ISI Research – May 26, 2020