LNG

Royal Dutch Shell has joined Western Australian LNG operator Woodside Petroleum and Petronas of Malaysia in making a minority investment in the online liquefied natural gas trading platform GLX.

GLX, the Australian-owned liquefied natural gas trading platform, said buyers, sellers and traders can now access GLX spot LNG cargo dealing in Europe.

Woodside Petroleum, the operator of North West Shelf and Pluto liquefied natural gas plants and a stakeholder in the Wheatstone facility, said it had made investments in two online LNG trading and data platforms in a move to bring greater price transparency, efficiency and compliance to markets.

The Australian-run Global LNG Exchange is progressing with its plans to facilitate spot cargo sales during Singapore and London business hours whereby parties will initiate an auction, set the commercial terms, including a reserve price and select the counterparties they wish to invite.

Global LNG Exchange, a company based in the Australian city of Perth, is progressing with plans for its platform to buy and sell spot LNG cargoes via online auctions and expects to begin trading live in the first quarter of 2017.