Commodity trader Trafigura and Eni Trading and Shipping traded the first liquefied natural gas (LNG) futures contract representing delivered prices to Dubai, Kuwait and India, Singapore Exchange (SGX) said on Wednesday.
A total of 100,000 million British thermal units, 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
"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