ICIS East Asia Index (EAX) Reaches Record High
LONDON, February 19, 2013 /PRNewswire/ --
The ICIS East Asia Index (EAX) March contract for physical LNG closed at $21.413/MMBtu on Friday, 15 February, marking the highest Asian spot LNG assessment recorded by ICIS.
ICIS LNG Analyst Simon Ellis said: "The near-term cause for the price rise has been competition from South America, as Brazil has purchased unprecedented levels of spot LNG to offset the fall in hydroelectric generation caused by a prolonged drought."
"The tight market conditions have been exacerbated by unscheduled production problems at LNG plants, as well as the recommitment of spot LNG volumes to mid- and long-term contracts," Ellis added.
ICIS' March South America Index (SAX) reached a record $18.447/MMBtu on 15 February. A detailed account of price development over the month can be found here: http://www.icis.com/heren/articles/2013/02/15/9641700/south-american-competition-production-woes-drive-asian-lng-price.html
The ICIS DES (delivered ex-ship) Japan assessment was also assessed at a record high of $21.50/MMBtu on 15 February. Prior to 2013, the ICIS DES Japan assessment was last quoted at more than $20.00/MMBtu on 5 September 2008. ICIS Heren became the first price reporting agency to assess East Asian spot LNG prices in March 2008.
ICIS is the world leader in providing transparency for physical LNG trade. It publishes five regional indices and 21 country-specific assessments for spot LNG delivered into the world's major LNG import terminals. It also publishes FOB assessments for all major producing regions and FOB reload assessments.
The EAX is an index for the DES price into Japan, South Korea, China and Taiwan. The prices for the four countries are also assessed separately. The price series has been published daily since June 2010. Relevant bids, offers and deals are also published.
The SAX is an index for the DES price into Argentina, Brazil and Chile. The price series has been published daily since June 2010.
ICIS has been providing LNG spot market information to the global industry since 2005 and was the first publisher to assess LNG spot prices, when Heren Energy launched weekly Asian assessments in 2007. ICIS assessments and indices have been the most widely used price benchmarks in Europe since gas and power markets started to trade in the 1990s. Our specialist LNG coverage goes further than any other in bringing transparency to the still growing LNG markets. Our LNG reports are tightly focused on LNG spot trade, providing readers with daily assessments and indices for all of the world's major LNG delivery and reload locations, bid/offer and deal information, shipping information and online news.
ICIS is also the world's largest petrochemical market information provider, with over 600 employees across 12 global locations. It is a division of Reed Business Information, owned by global publishing house Reed Elsevier PLC. The ICIS business is built on providing companies in global commodities markets with trusted pricing data and high-value news and analysis, enabling them to make better-informed trading and planning decisions.
For further details and comments please contact:
To find out more about ICIS LNG market coverage, visit our website.
More by this Source
ICIS Further Expands Polymers Coverage With Two New Reports on the Turkish Market
Feb 26, 2014, 11:44 ET
UK Wholesale Energy Prices Scrape One-Year Lows as Risk of Cold Snap Dissipates
Jan 16, 2014, 05:58 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.