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GLX launch LNG trading in Europe

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LNG Industry,

LNG buyers, sellers and traders can now access real-time market sentiment when dealing spot cargos in Europe, after Perth and Singapore-based GLX launched a new digital bid-offer system in the region.

The news comes as European demand for LNG continues to grow, with US and Russian cargos being increasingly traded.

GLX Managing Director for LNG Market Development Marc Howson says the growing liquidity and current market conditions are the catalysts for the launch.

“Given fast-growing LNG deliveries and counterparties in Europe, participants are looking for real-time market sentiment established directly between buyers and sellers of LNG cargos,” Howson said. The platform and its digital bid-offer system allow tradeable bids and offers to take place with tailored levels of transparency.

Commenting on the launch, Deloitte Partner and Australian Oil, Gas and Chemicals leader Bernadette Cullinane said: “As the LNG market continues to rapidly evolve towards greater liquidity, an important enabler is the emergence of digital LNG platforms. These platforms will provide powerful real-time LNG insights, leading to a much more dynamic market.”

The GLX platform enhances conventional LNG trading by accepting direct bids, offers and trades by industry participants in real-time, significantly reducing time and de-risking the potential of data entry errors.

“The major difference is that trading is conducted without time delays, working in real-time, and allows all parties to have pricing transparency and absolute control over their trading,” Howson said.

“As counterparties increase, trading venues need greater flexibility to manage the strategic objectives of each participant.”

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