Platts adds Bilbao, Mugardos to base delivery ports in DES NWE LNG

Platts, part of S&P Global Commodity Insights, has added Bilbao and Mugardos in northern Spain as base delivery ports reflected in its Market on Close assessment process for DES Northwest Europe LNG Marker, effective June 16.

The addition reflects changing trade practices around flexibility provided for cargoes historically categorized as having flexibility for delivery into Northwest Europe, following Platts analysis of market and trade data.

Platts DES NWE Marker assessment now reflects deliveries into Isle of Grain, Zeebrugge, Gate LNG, Dragon LNG, Montoir, South Hook, Dunkirk, Bilbao and Mugardos.

Bids and offers into other Northwest European destinations continue to be considered for publication.

Bilbao and Mugardos remain base delivery ports reflected in the MOC of the Platts DES MED Marker assessment for cargoes into the Mediterranean, which includes all other ports into the Iberian Peninsula and up to Fos Cavaou.

Bids and offers into other Mediterranean destinations continue to be considered for publication.

Additionally, Platts considers it standard for the seller to state at least 30 days ahead of delivery a specific quantity (e.g. 3.5TBtu plus/minus 5% operational tolerance) for offers, bids and trades reported in a quantity range in the Atlantic LNG price assessment process.

Platts continues to publish quantity ranges no greater than 0.3 TBtu in offers reported in the MOC process.

Platts decided to add these two ports on April 26, via a subscriber note here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/042623-platts-to-add-bilbao-mugardos-to-base-delivery-ports-in-des-nwe-lng, following a proposal on March 23, via a subscriber note here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/032323-platts-proposes-adding-bilbao-mugardos-to-base-delivery-ports-in-des-nwe-lng

The affected assessments appear in LNG Daily, Platts LNG Alert pages 888, 889, 1820, 1821, 1830, 1831, Platts Natural Gas Alert pages 1020, 1044, 1046, 1047, 1048, 1049 and under the Platts price database codes below:

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