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ICIS launches daily price assessment of LNG

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Hydrocarbon Engineering,

ICIS, a leading provider of pricing and market intelligence for the global energy, chemical and fertiliser markets, has launched a daily price assessment of liquefied natural gas (LNG) originating from the US Gulf to global destinations, including key consumer markets in Asia and Europe.

The US Gulf free on board (FOB) price will be published daily in the ICIS LNG Markets Daily (LMD) report alongside existing global FOB assessments from eight key export locations.

ICIS has also launched new shipping and netback costs from the US Gulf to 23 key importers across Asia Pacific, Europe, South America and the Middle East and North Africa."ICIS is proud to bring even more price transparency to this key trading location as it has for all the world's spot LNG trading points," said Ben Wetherall, Head of Gas and LNG for ICIS. "The anticipated increase in flexible US LNG volumes will bring greater liquidity to spot LNG markets in both the Atlantic and Pacific basins, and will have a transformative effect on global gas pricing."

The US started exporting LNG from the lower 48 states for the first time in February when Cheniere Energy delivered a cargo to Brazil from its Sabine Pass plant in Louisiana.

"Trading in the Atlantic Basin is expected to increase with the start of US LNG exports. Just over the last month, we are noticing sellers of spot LNG shifting their attention to the Americas and to Europe and new trade paths are starting to emerge," says Ed Cox, ICIS Global LNG editor.

With the expectation that LNG exports from the US will come to Europe as trade flows increase, the ICIS NBP and Dutch TTF gas hub assessments are both valuable pricing references for US LNG traders. ICIS publishes daily prompt and curve prices for the NBP and TTF, which are widely referenced in contracts between sellers and buyers.

Adapted from press release by Francesca Brindle

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