17 Jan 2023 | 10:08 UTC

Platts to launch European LNG, Natural Gas differential assessments

Platts, part of S&P Global Commodity Insights, will launch new LNG assessments, including one for the spread between European TTF and LNG prices, with effect from Feb. 15, 2023.

This follows the increased market interest in understanding the prevailing price difference between LNG and European gas prices in Eur/MWh after recent legislative announcements in the European Union.

The new assessments will include:

  • The price of front-month Platts JKM (AAOVQ00) in Eur/MWh.
  • The price difference between month-ahead Dutch TTF (GTFTM01) and the average of Platts DES NWE (LNNTA00), Platts DES MED (LNMTA00) and Platts JKM in Eur/MWh.
  • A rolling three-day average of the aforementioned spread between Dutch TTF and global LNG.
  • The price difference between the front-month Dutch TTF in $/MMBtu (GTFWM10) and the equivalent month of NWE assessments. For example, from the 1st to the 15th of the calendar month, this would consider Platts NWE (AASXU00) minus Platts Dutch TTF M1 (GTFWM10); for the 16th to the end of the month this would look at Platts NWE (H2 [LNNDA00] + H3 [AASXV00] / 2) minus Platts Dutch TTF M1 (GTFWM10).
  • The price difference between the front-month Dutch TTF in $/MMBtu (GTFWM10) and the equivalent time month of Platts MED LNG assessments. For example, from the 1st to the 15th of the calendar month, this would look at Platts MED (AASXY00) minus Platts Dutch TTF M1 (GTFWM10); for the 16th to the end of the month this would look at Platts MED (H2 [LNMDA00] + H3 [AASXZ00] / 2) minus Platts Dutch TTF M1 (GTFWM10).

This decision follows a proposal note published Dec. 20, 2022, available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/122022-platts-proposes-european-lng-natural-gas-differential-assessments

Full details of the existing Platts DES NWE LNG assessments can be found in the Global LNG Specifications Guide: https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/global_lng.pdf.

Please send all feedback, comments and questions to lngeditorialteam@spglobal.com and pricegroup@spglobal.com by February 15, 2023.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.