SINGAPORE (Reuters) – The world’s biggest liquefied natural gas (LNG) producers including Shell, Total and Petronas are increasingly selling from global supply pools instead of dedicated projects as buyers leverage a fuel surplus to force ever more flexible deals.

FILE PHOTO: An LNG tanker passes boats along the coast of Singapore on February 3, 2017. REUTERS/Gloystein Henning

This marks an accelerated turning from traditional long-term contracts that lock customers into taking regular volumes from specific projects under oil-linked pricing formulas.

Global oversupply that has pulled spot LNG prices down by more than 50 percent over the past half-year has producers succumbing to consumer demands for fuel on shorter notice and without sourcing or destination restrictions.

“A more dynamic and liquid LNG market, and the need for