Our Price Explained
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What is Platts Southeast Asia Marker (SEAM)?
What is Platts Southeast Asia Marker (SEAM)?
Platts, part of S&P Global Commodity Insights, assesses daily spot delivered ex-ship (DES) Southeast Asia LNG prices as a differential to the Platts JKM – the most widely used LNG benchmark – as well as on an outright basis. Platts launched the assessments under the name Platts Southeast Asia Marker (Platts SEAM) on October 23, 2023. Platts SEAM LNG assessments reflect the value of spot LNG cargoes delivered into Southeast Asia. Southeast Asian LNG imports have grown significantly over the last two years, with existing importing nations Thailand and Singapore showing strong increases. The imports are expected to grow further as new importing countries such as the Philippines and Vietnam enter the market.
Platts SEAM LNG assessments reflect LNG cargoes with gross heating value (GHV) of 1,000–1150 Btu/Scf, a cargo size of 3.4 TBtu +/-5% operational tolerance (optol) for delivery into LNG terminals in Thailand. Prices of LNG spot cargoes delivered into terminals in Singapore, the Philippines or Vietnam may be normalized. For SEAM's full methodology, please see: Specifications Guide Global LNG
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How do we assess Platts Northwest Europe Marker?
How do we assess Platts Northwest Europe Marker?
Platts market reporters communicate with market participants via phone, instant messaging, and tools like Platts eWindow, which is licensed from Intercontinental Exchange. Platts routinely reviews participating companies to ensure the suitability of the data used in price assessments.
Platts MOC data is published in real-time on Page 008 of Platts LNG Alert and on Platts Connect. For questions about MOC participation, contact market_integrity_review@spglobal.com.
In addition, information gathered from market surveys is considered in the final assessment along with bids, offers, and trades reported in the MOC. Transparency is crucial to Platts' assessment process. Fully verifiable and transparent market information is given the highest priority in the final market assessment.
These inputs are published throughout the day in real-time as "market heards," allowing Platts to test the information and receive feedback from market participants.
After the market closes, Platts may adjust the pricing information for various factors, including timing/delivery dates, quantity, location, terms of trade, and quality. For more details, refer to Platts Specifications Guide – Global LNG.
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Evolution of Platts Northwest Europe Marker
Evolution of Platts Northwest Europe Marker
Southeast Asia is expected to become a major user of LNG due to its changing energy needs and growing demand for power. The region is seeing more open gas and power markets, with new pricing policies and easier access to LNG terminal facilities for different companies. Platts SEAM shows how quickly the LNG market in Southeast Asia is becoming standardized, with contracts already linked to JKM LNG prices and trading becoming more consistent. Establishing a Southeast Asia LNG price reference might also help develop related markets, such as small-scale LNG and LNG bunkering in the region.
What is Platts Southeast Asia Marker (SEAM)?
Platts, part of S&P Global Commodity Insights, assesses daily spot delivered ex-ship (DES) Southeast Asia LNG prices as a differential to the Platts JKM – the most widely used LNG benchmark – as well as on an outright basis. Platts launched the assessments under the name Platts Southeast Asia Marker (Platts SEAM) on October 23, 2023. Platts SEAM LNG assessments reflect the value of spot LNG cargoes delivered into Southeast Asia. Southeast Asian LNG imports have grown significantly over the last two years, with existing importing nations Thailand and Singapore showing strong increases. The imports are expected to grow further as new importing countries such as the Philippines and Vietnam enter the market.
Platts SEAM LNG assessments reflect LNG cargoes with gross heating value (GHV) of 1,000–1150 Btu/Scf, a cargo size of 3.4 TBtu +/-5% operational tolerance (optol) for delivery into LNG terminals in Thailand. Prices of LNG spot cargoes delivered into terminals in Singapore, the Philippines or Vietnam may be normalized. For SEAM's full methodology, please see: Specifications Guide Global LNG
