LONDON, June 16, 2010 /PRNewswire/ -- Leading natural gas and power market publisher ICIS Heren has begun publication of a daily report on liquefied natural gas markets, a move which reflects the transition of these markets to global maturity.
The launch of the new report, "LNG Markets Daily", marks a significant moment in the evolution of gas markets. Once regional and limited in scope, trade in gas is rapidly becoming a global phenomenon - one that could eventually rival the trade in crude oil in its importance for the world's energy balance.
Driving that growth has been the extraordinarily swift rise of the LNG market - a shipping-based market which frees natural gas from the constraints of trade through pipeline networks and allows buyers and sellers to compete for the product on a "spot trade" basis.
Since ICIS Heren became the first company to assess LNG spot prices in 2008, the volume of global trade has grown steadily. LNG now accounts for around 30% of the world's gas trade. Spot transactions are still a small proportion of this volume but the ability and appetite for trading cargoes at short notice is growing. Large investments and the building of gas liquefaction plants and liquefied natural gas receiving terminals in recent years are rapidly expanding the market's scope.
"Major investments in our LNG market coverage in 2010 give us the opportunity to satisfy the market's needs," said Louise Boddy, Head of Gas & Power at ICIS Heren.
A growing number of LNG buyers and sellers across a wider range of locations means reliable price discovery is now both possible and desirable, Boddy noted.
ICIS Heren commodity market expertise goes back to 1993 when, as Heren Energy, the company was the first to report on the UK's National Balancing Point market. Since then, the company has expanded into specialist analysis of European gas markets, LNG, power markets, and most recently coal, and the carbon sector.
ICIS Heren launched "LNG Markets Daily" on 10 June, providing assessments for delivered LNG at 17 of the world's major spot cargo destinations every day for the first time. The publication also provides free on board (FOB) assessments for the world's eight major LNG producing regions.
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Contact details for more information and interviews: Louise Boddy Head of Gas & Power, ICIS Heren Louise.firstname.lastname@example.org +44(0)207-911-1948 For more information visit http://www.icis.com/heren Follow us on Twitter http://www.twitter.com/icisheren
SOURCE ICIS Heren