With the U.S. about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Inc. (ICE) said March 22 it would begin trading the first-ever U.S. LNG futures contract in May.ICE said the contracts would 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 term 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,” J.C. Kneale, ICE’s vice president of North American power and natural gas markets, said in a statement.
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