Platts launches European LNG, Natural Gas differential assessments

Platts, part of S&P Global Commodity Insights, has launched new LNG assessments, including one for the spread between European TTF and LNG prices, effective Feb. 15, 2023.

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

The new assessments include:

• The price of front-month 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).

Platts decided to launch the assessments on Jan. 17 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/011723-platts-to-launch-european-lng-natural-gas-differential-assessments, following a proposal on Dec. 20, in a subscriber note 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: /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/global_lng.pdf.

Please send all feedback, comments and questions to lngeditorialteam@spglobal.com and pricegroup@spglobal.com. 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.