LONDON, July 11, 2012 /PRNewswire/ -- Leading energy and commodities price reporting organisation Argus has launched the LNG industry's first west Africa fob (free-on-board) spot price assessment, called the AWAF price. Spot LNG volumes in west Africa are increasing and will soon be augmented by exports from Angola's new LNG facility, which should enable a further expansion of the region's spot market.
The new Argus west Africa fob (AWAF) price assessment is designed to capture LNG trade at export facilities in Angola, Equatorial Guinea and Nigeria. The assessment windows cover cargoes for loading within two forward half-month periods, taking into account loadings for the second and third full half-month periods from the date of assessment.
Argus' west African market coverage complements the Argus LNG Daily report's existing suite of Asia-Pacific and European spot price assessments, market commentary and global netback pricing.
"LNG trade is expected to grow in the coming years, as an influx of newly built LNG carriers will increase shipping flexibility, enabling more companies to buy cargoes on a fob basis," Argus Media chairman and chief executive Adrian Binks said. "The launch of the AWAF price assessment in the Argus LNG Daily report marks a new chapter for the LNG industry, as Argus becomes the first price reporting organisation to assess trades at loading ports in west Africa."
The Argus LNG Daily report provides spot price assessments for Asia-Pacific, the Middle East and Europe, information about shipping movements, market-moving news and analysis. The report has been carefully designed to provide global LNG market participants with the critical insights and key LNG statistics and data needed to stay ahead of market developments, as well as to help shape commercial strategies.
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Argus Media is a leading provider of price assessments, business intelligence, market data, consultancy and conferences on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer and transportation industries. Argus energy and fertilizer prices are widely used by leading companies, governments and international agencies as benchmarks in supply contracts, risk management and planning.
Argus is headquartered in London and has more than 400 staff in offices in Houston, Washington, New York, Portland, Calgary, Santiago, Bogota, Rio de Janeiro, Singapore, Beijing, Tokyo, Sydney, Dubai, Moscow, Astana, Kiev, Porto, Brussels, Johannesburg and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.
SOURCE Argus Media