A consortium of Tractabel, REKK and Energy Markets Global (EMG) was commissioned to carry out a follow up study to the LNG and storage strategy adopted by the European Commission in February 2016. EMG was responsible for the LNG parts of the study. In order to understand the main drivers for liquidity, flexibility and transparency in LNG globally, EMG constructed a database of every LNG liquefaction project worldwide; interviewed a wide range of LNG industry participants across the world; prepared case studies of trading in other relevant industries; analysed market, commercial and legal issues around LNG globally; developed scenarios for future LNG supply, demand and pricing; identified possible initiatives the EU could take to increase liquidity, transparency and flexibility.