The digitalisation of global LNG trading recently reached an important milestone, with the first LNG trades to be launched in the Pacific and Atlantic basins using GLX’s trading software having been executed on the same day.
During the Asian trade session, an LNG producer sold a cargo from the Pacific to an Asian end-user. A few hours later, a European player placed a live offer to sell LNG into the Atlantic.
According to Marc Howson, GLX’s Managing Director of LNG Market Development, the milestone represents a significant tipping point in the industry.
“Following the recent trading growth on GLX, resulting in multiple cargoes being offered or sought across basins weekly, international LNG market sentiment is being exposed in real-time,” Howson said.
“This price discovery also highlights LNG arbitrage opportunities across the Atlantic and Pacific basins.”
Currently, GLX has more than 60 members including the largest private and sovereign energy companies in Asia, Europe, North America, the Middle East and Australia.
Read the article online at: https://www.lngindustry.com/lng-shipping/10072019/digital-lng-trading-expansion-continues-globally/