BP, Itochu to join Platts LNG pricing process in Asia
Commodity pricing agency S&P Global Platts said on Friday that BP and Itochu Corp would join the price assessment process for Asia liquefied natural gas (LNG).
Platts has reviewed the companies and will consider information from them when assessing the Asia Japan Korea Marker (JKM) LNG physical price, the agency said in subscriber notes published on its website.
Platts received its first transparent LNG price bid from Trafigura last week, one of four entities from three companies that are participating in its LNG pricing process.
Platts’ JKM LNG price assessments is increasingly being seen as a benchmark for spot LNG in Asia.
Source: Reuters (Reporting by Florence Tan; Editing by Amrutha Gayathri)