Energy security concerns raised by the Ukraine war are pushing charterers to look into locking up LNG carriers on multi-year deals.

During the LNG carrier owner panel at Capital Link’s International Shipping Forum, held online on Tuesday, Flex LNG chief executive Oystein Kalleklev said charterers are asking to fix ships for longer and longer durations, given the sector’s high rates.

“When we get elevated term rates for 12 months, then, of course, people are asking, ‘What if I do three years?’ Maybe they don’t like that number either these days, so we’re getting to five,” Kalleklev said.