Platts launches Northwest European bio-propane assessment

Platts, part of S&P Global Commodity Insights, has launched a new assessment for Northwest European bio-propane effective Feb. 24.

Platts has observed growing consumption and supply for bio-propane in Northwest Europe, ranging from the transportation industry to heating sectors, driven in part by the transition to lower carbon fuels.

The new bio-propane FCA NWE assessment under the Platts symbol ABPRA00 in LPGaswire and in Biofuelscan aims to provide additional transparency to the Northwest European bio-propane market and follows extensive consultation with producers, consumers, traders and others in the European refined oil products and biofuels markets.

The assessment reflects standard railcar and truck sizes of 20 mt to 500 mt of bio-propane for FCA delivery ex-refinery/storage three-to-10 days forward from date of publication. Bids, offers and trades for barges available for FOB loading may be taken into consideration but may be normalized to reflect the standard reference size.

The bio-propane NWE assessment reflects material with sustainability documentation showing a minimum greenhouse gas saving of 50% when compared with the fossil fuel comparator, as per the European Union's Fuel Quality Directive calculation. This operates in addition to the prevailing Renewable Energy Directive (RED) requirement, with the highest requirement for GHG savings taking precedence.

The bio-propane FCA NWE assessment is published in USD/mt. Platts will also publish a separate Eur/mt value converted from ABPRA00 under the Platts symbol ABPRC00 in LPGaswire and Biofuelscan, using a 16:30 London time-stamped assessment value for the USD/Eur exchange rate under the Platts symbol AAFCW00.

In addition, Platts has also launched an assessment reflecting the premium of bio-propane FCA Northwest Europe over propane CIF NWE Large Cargo, in USD/mt under the Platts symbol ABPRB00 in LPGaswire.

The bio-propane FCA NWE assessments are published on Platts LPGaswire, Platts Biofuelscan [with effect from March 20], Platts alerts fixed pages PGL1775, PCA1775 and Platts Dimensions Pro, while the bio-propane FCA NWE premium over CIF NWE Cargo is published on Platts LPGaswire, Platts alerts fixed pages PGL1775, PCA1775 and Platts Dimensions Pro.

Description Daily Assessment Weekly Assessment Monthly Assessment

Bio-propane FCA NWE USD/mt ABPRA00 ABPRA04 ABPRA03

Bio-propane FCA NWE Eur/mt ABPRC00 ABPRC04 ABPRC03

Bio-propane FCA NWE Premium USD/mt ABPRB00 ABPRB04 ABPRB03

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