The imposition of tariffs on U.S. LNG exports has made life more difficult for exporters including Cheniere. At the same time new competitors are achieving commercial success in growth markets such as Brazil. One example is that Russia’s Novatek has made its first delivery from Yamal to Brazil, where imports have grown by 15% in the past 12 months. That’s been due in large part due to U.S. supplies. The addressable Mexican market may also become smaller if the incoming government implements plans to develop domestic reserves more aggressively. U.S. supplies accounted for 81% of Mexico’s ...