S&P Global to launch H+2 LNG assessments for NWE, MED

S&P Global Commodity Insights will launch second-half month forward assessments, H+2, for Platts DES Northwest Europe (NWE) and Platts DES Mediterranean (MED) LNG, time stamped to 4:30 pm London time, effective April 1, 2022.

The decision to start assessing H+2 follows industry feedback and reported market activity that indicates H+2 delivery period bids, offers and trades are becoming a more regular feature of the market.

The new assessments will reflect cargoes for delivery in the second half-month forward cycle from the date of publication.

They will roll over on the 16th of each calendar month unless that day is not a business day, in which case the price assessments roll over on the following business day.

For example, on April 14, the H+2 assessments will reflect April 16-30 pricing and on April 19 the H+2 assessments will reflect May 1-15 pricing.

There will, however, be no change to the DES NWE Marker and DES MED Marker methodology, and the calculation of these markers will remain unchanged.

The DES NWE Marker and DES MED Marker will continue to represent the average of the two half-month cycles from H+3 onwards which comprise the first full month of delivery.

There will also be no change to the calculation of the cumulative monthly averages for the DES NWE Marker and DES MED Marker.

For example, on April 14, the DES NWE Marker and DES MED Marker will continue to represent the average of price assessments for cargoes for delivery in H1 May and H2 May.

On April 19, the two markers will continue to represent the average of price assessments for cargoes for delivery in H1 June and H2 June.

S&P Global launched H+2 instruments on the Platts Editorial Window, or eWindow, communication tool for Platts Atlantic LNG physical Market on Close assessment process for its DES NWE and DES MED price assessments on Feb. 7, 2022 (https://www.spglobal.com/commodity-insights/en/our-methodology/subscriber-notes/020722-platts-launches-h2-atlantic-lng-physical-ewindow-instruments).

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

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Platts will consider all comments received and will make comments not marked as confidential available upon request.