Trafigura, Eni trade first Middle East, India LNG futures contract
12/13/2017
LONDON (Reuters) — Commodity trader Trafigura and Eni Trading and Shipping traded the first LNG futures contract representing delivered prices to Dubai, Kuwait and India, Singapore Exchange (SGX) said on Wednesday.
A total of 100,000 MMBtu, a fraction of a standard-size cargo, of February 2018 futures was cleared by SGX at a price of $9.85 per MMBtu on Dec. 8, the exchange said in a statement.
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.
Reporting by Oleg Vukmanovic; Editing by Elaine Hardcastle
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