How is LPG priced internationally?

International LPG cargoes from the Middle East are priced against the Saudi Aramco Contract Price (CP) for Propane and Butane, weighted by composition, plus a spot premium, freight (Baltic BLPG routes), insurance and any war-risk surcharge.

LNG is priced under three dominant mechanisms: oil-indexed using a Brent slope (typically 11–14% × Brent + a constant), Henry Hub-indexed for US-origin FOB cargoes (115% × HH + a fixed liquefaction fee), and spot-indexed against JKM in Asia or TTF in Europe, with shipping added separately when sold DES.

How are crude oil cargoes priced?

Crude cargoes are priced against a regional benchmark (Brent for Atlantic Basin, Dubai/Oman for Middle East sour grades, WTI for US barrels) plus an Official Selling Price (OSP) differential set monthly by the producer, adjusted for quality (API, sulphur) and freight on the relevant Worldscale route.

How are EN590 and Jet A-1 priced?

Refined products are priced against Platts assessments — CIF NWE Cargoes or FOB ARA Barges for Europe, MOPS for Asia — averaged over the agreed Quotation Period, then adjusted for premium, freight on Worldscale clean routes, SGS or Intertek inspection and insurance.

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Sustainability

A trader's quiet obligation

How we measure, report and reduce the environmental footprint of a physical commodities book.

Responsible sourcing

100%

Net-zero ambition

2050

GHG baseline

FY2026

Sustainability Priorities

Six areas where we hold ourselves accountable.

These priorities guide how we source, trade, deliver and engage with communities. They complement the ESG governance roadmap and are reviewed by the Board.

Responsible sourcing

Origin integrity in every cargo.

We source crude oil, refined products, petrochemicals, helium and industrial gases only through verified producers, refiners, NOCs and authorised channels. Every supplier is screened for sanctions, AML, anti-bribery and human-rights compliance before any contractual relationship begins.

Supplier Code of Conduct rolled out to active counterparties
KYC, sanctions and adverse-media screening at onboarding
Right to audit and terminate for ESG or compliance failures

Energy transition

Enabling lower-carbon molecules and fuels.

Our trading book is deliberately diversified across conventional energy and transition fuels. We are building capability in LNG, biofuels, hydrogen feedstocks and carbon-competitive supply chains so we can serve customers as demand evolves.

LNG and lower-carbon gas solutions for power and industry
Biofuels and hydrogen-feedstock sourcing under evaluation
Transition-fuel desk capability built alongside conventional oil

Cleaner fuels

Quality specifications that reduce emissions at point of use.

We prioritise fuels that meet or exceed current environmental specifications — low-sulphur marine gasoil, EN590/ULSD, low-sulphur fuel oil and high-purity helium with efficient logistics. Cleaner products reduce combustion emissions and help counterparties meet their own regulatory obligations.

ULSD / EN590 and low-sulphur fuel oil programmes
Low-sulphur marine fuels for IMO 2020 compliance
High-purity helium and industrial gases with efficient logistics

Carbon reduction initiatives

Measuring, then reducing, our footprint.

We begin with honest measurement. We are building a Scope 1, 2 and material Scope 3 GHG inventory aligned to the GHG Protocol, and will pursue independent limited assurance once we have two full years of data. Offsets will be used only as a residual after reduction.

GHG inventory in build; first baseline targeted FY2026
Cargo carbon-intensity methodology design 2026–2027
Internal carbon price piloted in capital allocation from 2029

Ethical supply chains

Human rights, labour standards and anti-bribery flow-down.

Our supply-chain standards are built around the UN Guiding Principles on Business and Human Rights, ILO Core Conventions and the UK Modern Slavery Act. We expect suppliers, agents and logistics providers to uphold the same standards and provide an escalation channel for suspected violations.

ILO core conventions and UN Guiding Principles referenced
Supplier attestations on labour practices
Confidential Speak-Up channel for suspected violations

Community engagement

Investing in the regions where we operate.

MENA United is committed to being a responsible corporate citizen in the UAE, the UK, Canada, Jordan, Singapore and every market we serve. We prioritise local hiring in our MENA hub, support education and skills initiatives, and partner with institutions that align with our values.

Majority local hiring principle for the MENA hub
Patronage of arts, music and education in the region
Long-term partnerships with community and industry institutions

Commitments

What we are doing now, not just what we intend to do.

The commitments below are live practices, not future promises. Where we set targets, we make them explicit and time-bound.

Responsible sourcing100% counterparty screening

Energy transitionLNG, biofuels & hydrogen feedstocks

Cleaner fuelsLow-sulphur & high-spec products

Carbon reductionNet-zero ambition by 2050

Ethical supply chainsUNGPs · ILO · Modern Slavery Act

Community engagementLocal hiring & regional patronage

Governance & Reporting

See the full ESG roadmap, policies and frameworks.

Sustainability is one part of our broader ESG programme. The ESG page sets out our governance design, three pillars, year-by-year roadmap and the frameworks we are aligning to.

ESG & Sustainability