Platts proposes West Mediterranean LNG bunkers assessment

Platts, part of S&P Global Commodity Insights, is proposing to start publishing a daily LNG bunker fuel price assessment, reflecting the value of LNG used as a marine fuel in West Mediterranean ports, effective Aug. 16, 2023.

The assessment would reflect the prevailing spot price of LNG bunkers transacted in the West Mediterranean, with the basis port being Barcelona, Spain.

Loadings in other ports within Iberian Peninsula and Southern France would also be considered.

The new assessment would be published on a fixed price delivered basis in $/MMBtu. A conversion to $/metric ton of LNG would also be published from the MMBtu assessment using a factor of 52.

Platts would consider barge-to-ship and truck-to-ship deliveries for the assessment and seek feedback on which delivery to reflect as the standard in this subscriber note.

The assessed volume would be for deliveries of 5,000 cu m. Sizes above and below may be normalized for purposes of assessment.

Platts would convert floating prices, or index-linked prices, to a fixed price equivalent for consideration in the final assessment. The assessments would reflect market value at the close of London trade at 4:30 pm UK time, and would follow the UK publishing schedule.

Platts invites feedback on all of the above, and also specifically invites feedback on volume size and loading basis to be reflected in the assessment. The new assessments would be published in Platts LNG Alert pages, LNG Daily and Bunkerwire. Please send feedback and questions to LNGeditorialteam@spglobal.com and pricegroup@spglobal.com by July 10, 2023.

For written comments, please provide a clear indication if comments are not intended for publication by S&P Global for public viewing.