S&P Global launches H+2 LNG assessments for NWE, Med

S&P Global Commodity Insights has began publishing 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, from April 1, 2022.

The H+2 launch 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 assessments reflect cargoes for delivery in the second half-month forward cycle from the date of publication. They 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 is, however, no change to the DES NWE Marker and DES MED Marker methodology, and the calculation of these markers remains 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 is also 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.

The new assessments appear on Platts LNG Daily, Platts LNG Alert pages 1820, 1821, 1830, 1831, and Platts Natural Gas Alert pages 1046, 1047, 1048 and 1049 under the following price database codes:

Assessment Code MAvg

LNG NWE DES 0 Half-Month LNNDA00 LNNDA03

LNG Med DES 0 Half-Month LNMDA00 LNMDA03

S&P Global has earlier 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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