Platts to launch Ichthys Field Condensate assessment from November 9, 2021

S&P Global Platts will begin publishing daily price assessments for Australia's light, sweet Ichthys Field Condensate from Nov. 9, 2021.

Platts first proposed the launch in a subscriber note published Aug. 19, 2021:

Based on market feedback, the Platts assessment will be titled Ichthys Field Condensate as opposed to Ichthys condensate as initially proposed.

Ichthys Field Condensate is a light sweet crude with an API gravity of around 49 and sulfur content of 0.01%. Platts assessment of Ichthys Field Condensate will reflect 650,000-barrel cargoes loading two months from the date of publication on an FOB basis off Western Australia.

Platts will publish a daily outright price and a differential to Platts Dated Brent for Ichthys Field Condensate at Asian close of 04:30 PM Singapore time (0830 GMT).

The Ichthys assessment would follow Platts Asia-Pacific regional crude calendar that rolls on the 9th of each month.

The assessments will appear on Fixed Pages Platts Global Alert 2212, 2240, 2241 and 1250, under the following symbols:

Daily outright
Daily Differential to Dated Brent
Monthly Average outright
Monthly Average Differential to Dated Brent
Ichthys Field Condensate

Crude exports from the multi-billion-dollar project began in late 2018 and currently Ichthys condensate exports typically comprise of three 650,000-barrel cargoes each month from the FPSO Ichthys Venturer.

The Ichthys energy development is a joint venture between Japan's INPEX and major partner TotalEnergies. Other stakeholders include CPC Corporation, Taiwan, Tokyo Gas, Osaka Gas, Kansai Electric Power, JERA and Toho Gas.

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