Singapore (10th December 2020): 2020 has been a year of unprecedented change, impacting almost everything and everyone. As the energy industry adapts and the energy transition accelerates, collectively we have to respond and evolve. At Spark, we want to be at the forefront of this evolution, providing the LNG market with future orientated, independent, tech-driven solutions that drive progress.
Spark Neutral is designed to be one of these solutions and has 3 critical components:
The world’s first Carbon Neutral LNG freight rate. By combining our industry recognised spot LNG freight assessments with relevant carbon costs, our new Spark25N and Spark30N assessments intend to redefine how we understand LNG freight rates and their relationship with carbon offsetting.
The Spark Carbon Impact Calculator. Built to drive a deeper understanding of our impact, this tool enables market players to evaluate the environmental impact of each LNG freight voyage and the associated economic costs of transitioning to carbon neutral LNG freight. LNG freight represents 3-5% of the total carbon emissions for each produced, delivered and burned LNG cargo. The premium for transitioning to carbon neutral LNG freight at today’s prices is below 5%* of total shipping costs for a typical voyage.
Strength in numbers through industry collaboration. Driving change is going to take a significant effort from a large number of market participants. We are committed to building the independent, neutral solutions our customers need. With 150 LNG related organisations signed up to Spark, a developing reputation and strong shareholder and stakeholder support, by joining forces, we can make it happen.
*Calculations are based on a Spark30S Atlantic spot price of $131,250/day and EUA spot price of $33.10/t.
We recognise that the challenges in this space are huge. We also recognise that any successful solution will only emerge through market feedback, customer support and a relentless focus on building solutions that address the challenges that the industry faces.
22 months ago, Spark started as one small idea and two people. Today, with a stronger team, great customers and a track record of delivering a meaningful product, we now want to turn our initial idea into something much more impactful.
Ready?
About Spark Commodities
Spark Commodities, a joint venture between Kpler and Powernext (part of EEX Group which belongs to Deutsche Borse), is focused on providing technology based solutions that promote liquidity in the LNG market. Spark wants to redefine how LNG freight prices are understood. With a strong technical background, support from major industry players and commercial experience trading in the LNG market, we aim to provide a meaningful and robust index that allows the market to manage freight risk whilst benefiting from the increased levels of transparency that our platform provides. Empowering Trade, Together.
Press contact: press@sparkcommodities.com
Designed to do 3 things:
Assess your impact
Environmental Impact
- Emissions: 5,947 tonnes/co2
- 267,619 trees
Price your impact
Price Impact
| SparkN Rate | $137,750/day |
| Total Offset Cost | $196,831 |
| SparkN+ (Premium) | $6,500/day |
| SparkN+ % (Premium) | 4.7% |
Support Change
- 32,624 / 100,000 Tonnes of offset interest
- 1,468,080 / 4,500,000 Trees
Disclaimer: we recognise that this calculator is not perfect and there are multiple subjective elements. As with everything we do, we are only as good as the feedback we receive so all challenges (good or bad) are welcome. We’d love to hear from you.