US FOB Price Launch From ICIS Reflects Growing Focus on New US LNG Exports

17 May, 2016, 07:31 ET from ICIS

SINGAPORE, May 17, 2016 /PRNewswire/ --

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.

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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.  

Subscribers to our LNG products will now gain access to this new pricing data, as well as:

  • 23 country-by-country delivered ex-ship (DES) prices for the world's busiest LNG destinations
  • 9 FOB prices for key producing regions, including the new US Gulf assessment
  • Northwest Europe and Spain FOB reload price assessments
  • East Asia index - calculated using Japan, South Korea, China and Taiwan DES prices.
  • 5 other regional indices - South America, the Mediterranean, northwest Europe, Iberia,  and the Middle East
  • Historical prices (from 2010), downloadable via the ICIS Dashboard
  • In-depth weekly coverage of the Australian LNG market
  • LNG charter rates and shipping costs for both steam and tri-fuel diesel electric (TFDE)
  • News and trading activity - bids, tenders, negotiations and confirmed deals

More information about ICIS' global LNG market coverage can be found at http://www.icis.com/lng-reports

The British NBP and Dutch TTF prices can be found in the European Spot Gas Market (ESGM) reports. More information about ICIS' European spot gas market coverage can be found at http://www.icis.com/energy/gas/europe/european-spot-gas-markets/

ICIS has released an infographic and a supplementary market analysis to highlight emerging trade routes and price assessments. Download the infographic at http://www.icis.com/infographic-US-LNG-FOB.

About ICIS 

ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts.

With a global staff of more than 800 employees, ICIS has offices based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Mumbai, Dubai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth.  Some 350 of ICIS' staff are journalists engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.

ICIS is a division of Reed Business Information, part of RELX Group.

About Reed Business Information  

At Reed Business Information, we provide information and online data services to business professionals worldwide. Customers have access to our high-value industry data, analytics, information and tools. Our strong global brands hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group, a leading global provider of data, information and solutions for professional customers.

For further information about this release, please contact:

Syareena Ahmad, Marketing
E-mail: syareena.ahmad@icis.com
Tel:+65 6780 4339

SOURCE ICIS