The paper will analyze the challenges posed by the present business environment to the LNG industry as of 2016 and explore potential ways forward in terms of pricing and long-term contracts. Substantial amounts of LNG supply will reach the market by 2020 that may well exceed Asia’s appetite for LNG, which had relied mostly on increasing demand from China, India and Southeast Asia, presenting uncertainties in terms of growth due to price sensitivity. The flexibility of some new supplies, notably from the United States, means that many companies may be left with large amounts of surplus LNG. In this context, Europe is widely seen as the residual market where additional volume could be sold but its absorption capacity is likely to be tested by resistance from pipeline suppliers, especially Russia. Could this trigger another shift in LNG business with sellers of either existing supplies having to renegotiate or new projects moving ahead without the support of long-term contracts?