Global liquefied natural gas (LNG) buyers, hammered by high spot prices in Asia, are increasingly looking to short-term “bridge” contracts to ensure ample supply until demand is expected to cool down later this decade, according to an analysis by Wood Mackenzie.

Asian spot prices are hovering around $12/MMBtu for June and July delivery as demand grows and supply is scarce. However,  buyers looking for supply post-2025 are spoiled for choice as new export facilities are expected to come online, the consultancy said. Currently there is more LNG available for sale via long-term contracts than there are buyers.

“Will this buyers’ market for long-term LNG continue? At the moment it seems so. We expect contract prices for shorter term deals of less than five years to...