LONDON, April 12, 2012 /PRNewswire/ -- The international energy and commodities reporting organisation, Argus, has launched a new series of European spot LNG price assessments and new forward Asia-Pacific delivery periods. This reflects the growing liquidity of spot LNG trade and the market's need for accurate pricing benchmarks.
The new European assessments cover cargoes for delivery to northwest Europe, the Iberian peninsula, Italy, Greece and Turkey and are accompanied by a new daily European market commentary. The new European market coverage complements the Argus LNG Daily report's existing Asia-Pacific spot price assessments, market commentary and global netback pricing.
Argus is also expanding its Asia-Pacific LNG coverage, in response to greater liquidity and market interest in forward trade in the region. The new assessments will expand the available pricing periods to include cargoes traded up to 12 weeks before delivery.
Argus has also modified its existing Asia-Pacific assessments to allow for easier use of the indexes in hedging.
"Inter-regional gas trade is expected to climb significantly in coming years, as net importers such as China and Europe require additional supply from more distant production centres," Argus Media's chairman and chief executive Adrian Binks said. "The launch of these new European and Asian price assessments in the Argus LNG Daily report demonstrates our continuing commitment to independently assessing prices across the global gas markets."
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 and market data on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer and transportation industries. It is headquartered in London and has offices in Houston, Washington, New York, Portland, Calgary, Johannesburg, Dubai, Singapore, Tokyo, Beijing, Sydney, Moscow, Astana, Kiev, Santiago and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.
SOURCE Argus Media