NEW YORK, LONDON, and SINGAPORE, May 20, 2021 /PRNewswire/ — S&P Global Platts («Platts»), the leading independent provider of information, analytics and benchmark prices for the commodities and energy markets, today announced that the International Energy Agency (IEA) will use its Liquified Natural Gas (LNG) service that provides LNG prices as well as data on LNG shipping and LNG plant outages.
The IEA is an autonomous intergovernmental organisation established in the framework of the Organisation for Economic Co-operation and Development (OECD) in 1974. The IEA serves as an information source on statistics about the international oil market and other energy sectors and publishes the influential annual World Energy Outlook. Today, the IEA recommends policies to its member states as well as major emerging economies, to support energy security and advance the clean energy transition worldwide.
«The IEA is at the heart of the global energy dialogue and we are pleased they have chosen to add Platts LNG Service to their analysis reflecting the latest LNG prices, shipping and plant-related issues», said Ciaran Roe, Global Director of LNG Pricing, S&P Global Platts. «We are excited about the rapid commoditization of the LNG market, where contracts are increasingly being linked to international LNG prices. The integrity of the methodology underpinning our assessment processes allows Platts LNG price benchmarks to be relied upon by market participants, and we look forward to further collaboration between both organisations.»
S&P Global Platts has been publishing daily LNG prices for over a decade. Platts JKM is recognised as the global benchmark for spot physical LNG cargoes delivered to North Asia. It is referenced in spot deals, tenders and short-, medium- and long-term contracts both in the region and globally. In addition, Platts also publishes regional LNG benchmarks such as the West India Marker (WIM) and the US Gulf Coast Marker (GCM). A global editorial team monitors market news and assesses global LNG prices, and a team of LNG analysts provide detailed analysis and outlook of the global LNG market from Platts’ offices in Singapore, London and New York.
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SOURCE S&P Global Platts