Reuters are reporting that Trafigura and Eni Trading and Shipping traded the first LNG futures contract representing delivered prices to Dubai, Kuwait and India.
A total of 100 000 million British thermal units, a fraction of a standard-size cargo, of February 2018 futures was cleared by SGX at a price of US$9.85 per mmBtu on 8 December.
Tullett Prebon brokered the trade, the first of its kind to represent delivered prices to the Middle East and India.
“The region has been a source of growth both in volumes and in liquidity for the LNG market,” Chin Hwee Tan, Chief Executive of Asia Pacific for Trafigura said.