Platts to change Atlantic LNG vessel size, operational tolerance assessment specifications

Platts, part of S&P Global Commodity Insights, will update the specifications for vessel size and operational tolerance reflected in its daily Northwest Europe Marker (NWE), Mediterranean Marker (MED) and East Mediterranean Marker (EMM) LNG price assessments, effective June 16.

The changes are in line with industry feedback and observed changes in trading patterns and norms.

Platts first proposed the change March 27 in a subscriber note that can be viewed here(opens in a new tab).

The changes to the assessment specifications are as follows:

In addition to the above, Platts will maintain the current standard quantity for the NWE LNG benchmark, as well as the Delivery Window and Discharge Port nomination deadlines for NWE, MED and EMM.

Quantity (NWE only): a base volume of 3.5 TBtu

Delivery Window: Three days long, with the buyer to narrow to a one-day delivery window up to 20 days prior to the first day of the initial delivery window.

Discharge Port nomination: Buyer to nominate the base delivery port at least 30 days prior to delivery. The buyer should retain the option to substitute the discharge port up to 15 days prior, subject to the Ship Shore Compatibility Study.

Other specifications, such as the GHV specification in Northwest Europe and the Mediterranean, as well as the base quantity of 3.3 TBtu in the Mediterranean, will also remain unchanged.

Platts may continue to consider bids, offers and trades outside of the standard specifications for publication, and these may be subject to normalization for price assessments.

Please send feedback 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.