The Financial Times has reported that ArcelorMittal is seeking to secure LNG supplies from the US for its European steelmaking operations.

As the search is only in its early days, the steelmaker has not decided on the length or structure of the contract, but the strategic decision has come as a result of the disruption in gas supplies from Russia following the Russian invasion of Ukraine. Arcelor would become the third major European industrial company to sign a long-term LNG deal with the US, after Ineos and BASF signed agreements earlier this year, suggesting a general shift amongst industry.

The length of the contract will be particularly interesting – in 2021, Arcelor signed a five-year LNG supply deal with TotalEnergies for its joint venture with Nippon Steel in India, creating something of a precedent for the company, but Ineos and BASF signed deals spanning 20 and 17 year deals respectively. If Arcelor were to go that long, it could suggest more of a future for carbon capture and storage-equipped steelmaking in Europe.