ICE to offer first U.S. Gulf Coast LNG futures contractStaff Writer | March 23, 2017
With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange (ICE) said it will soon begin trading a first-ever U.S. liquefied natural gas (LNG) futures contract.
Trading Intercontinental Exchange
ICE said the contracts will be cash-settled against the Platts LNG Gulf Coast Marker (GCM) price assessment and use Platts-derived U.S. GCM LNG forward curves for daily settlement purposes. The curves will have an initial tenor of 48 months.
"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," said J.C. Kneale, vice president, North American power and natural gas markets at ICE, in a statement. ■