Attack on LNG and oil and gas-producing Abu Dhabi leads UK security firm to issue ‘severe’ shipping warning
An attack on the LNG and oil and gas-producing United Arab Emirates has led a UK-based shipping security firm to raise a commercial shipping warning in the region to “substantial” and for Saudi Arabian and UAE-flagged ships to “severe”.
Abu Dhabi prices plan
Oct 13 (LNGJ) - Intercontinental Exchange, a leading operator of global exchanges and clearing houses and provider of energy data for LNG and natural gas prices and futures, has provided an update on its plans to launch ICE Futures Abu Dhabi (IFAD), the world’s first futures contracts based on Murban crude oil from the United Arab Emirates. “Subject to the completion of regulatory approvals, ICE plans to launch IFAD and trading in Murban futures contracts late in the first quarter of 2021. A more specific date for the launch of trading will be announced in due course,” stated the Atlanta, Georgia-based company.
In November 2019, ICE announced its plans to launch IFAD, with the Abu Dhabi National Oil Company and nine of the world’s largest energy traders partnering with ICE on the launch. ICE Murban Futures will be a physically delivered contract with delivery at Fujairah in the UAE on a free-on-board (FOB) basis. ICE Murban Futures will be complemented with a range of 18 cash-settled derivatives which IFAD plans to launch for day one of trading.
LNG player Inpex of Japan explains benefits of new Abu Dhabi ICE futures for oil portfolio
Inpex Corp., the Japanese oil and gas company with stakes in major LNG export plants and projects such as Ichthys and Prelude FLNG in Australia and Abadi LNG in Indonesia, said it was joining the new ICE Futures Abu Dhabi (IFAD) venture backed by Intercontinental Exchange Inc. of the US as part of continuing efforts to balance portfolio risk.
