ICE to debut US LNG futures contract
USA
ATLANTA , March 22, 2017 – International Exchange (ICE) on Wednesday announced it will start trading the very first US LNG futures contract in May.
For daily settlement determinations, ICE will use Platts-derived U.S. Gulf Coast Marker (GCM) LNG forward curves with an initial tenor of 4 years. The contract will be of the cash settlement type and be indexed against the Platts LNG GCM price assessment.
“Domestic and international market participants now have a risk management solution that lays the foundation for a more effective means of hedging their spot and forward exposure,” ICE’s vice-president for North American power and natural gas markets J.C. Kneale said in a statement.
The US is projected to become a net exporter of gas for the first time since 1957 within the next 12 months.
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