As the LNG industry undergoes dramatic transformation, the financial industry lags behind. Project financing still requires the bulk of future production be covered under traditional take- or-pay contract structures. While this has traditionally helped fund the growth of global gas trade, the model is making it increasingly difficult for the promoters of greenfield LNG projects - or even backers of large-scale brownfield expansions - to move their projects forward. At the same time, US LNG projects, with a narrower scope as mid-stream projects and consequently smaller financing requirements, are also disrupting the model. What are the

options for project promoters to move their projects ahead? And what are the prospects that willing buyers under old contract structures will emerge when current large take-or-pay contracts come up for renewal?