Argus, a global energy and commodity price reporting agency, has launched an index called the Argus EU Low-carbon Ammonia Benchmark (EULAB) to support companies trading low-carbon hydrogen products in Europe. The EULAB index calculates the all-in cost of low-carbon ('blue') ammonia delivered to key European ports, considering factors like the Carbon Border Adjustment Mechanism (CBAM) set to begin in the EU from January 2026. This mechanism will require importers to pay for certificates reflecting embedded carbon emissions in products from outside the EU, likely boosting the demand for low-carbon ammonia. The EULAB index is expected to be crucial in managing input cost volatility and providing market participants with price transparency. It is based on US Gulf coast production of blue ammonia, factoring in natural gas prices, power costs, and carbon capture and storage technology. This index will play a role in facilitating the use of low-carbon ammonia as marine fuel and for power generation in Europe. Argus Chairman and CEO, Adrian Binks, highlighted the importance of the EULAB in offering a clear market reference for low-carbon ammonia products. The index is flexible enough to account for different production technologies' carbon intensity, ensuring its relevance for products of any origin delivered to Europe. The EULAB index has demonstrated significant price variations in the past year, indicating the need for a reliable benchmark, which the Argus index aims to provide. With the US expected to become a key hub for blue ammonia exports to Europe in the next decade, the launch of the EULAB complements Argus' existing suite of ammonia spot price assessments and hydrogen production cost data worldwide. Alongside the successful implementation of the Argus Japan Korea Low-carbon Ammonia Benchmark (JKLAB), the EULAB strengthens Argus' position as a leading provider of market insights in the ammonia and hydrogen sectors.