Platts launches NWE/SWE LNG assessments on June 28

Effective June 28, 2010, Platts has launched two daily spot liquefied natural gas (LNG) assessments to reflect the transactable value of LNG cargoes delivered into Europe -- a Northwest Europe (NWE) LNG assessment and a Southwest (SWE) Europe LNG assessment.

These assessments are published as a single flat price, and as a differential to NYMEX Henry Hub futures, ICE NBP futures, Dated Brent crude, and the Japan/Korea Marker (JKM) -- Platts' spot assessment for spot LNG cargoes delivered into Japan and South Korea.

The NWE and SWE assessments reflect market values prevailing at the close of European markets (4:30 pm London time).

The SWE assessment reflects standard cargoes of 125,000-155,000 cu m delivered ex-ship (DES) at the following ports in Spain: Huelva, El Ferrol LNG (Mugardos), Bilbao, Barcelona, Saggas LNG (Sagunto) and Cartagena; and at Sines LNG in Portugal.

The NWE assessment reflects standard cargoes of 125,000-155,000 cu m delivered ex-ship (DES) at the following ports: Isle of Grain and Milford Haven (South Hook and Dragon) in the UK, and Zeebrugge in Belgium.

Every London business day, Platts produces and publishes three half-month cycle assessments in each location, reflecting cargo delivery in the third, fourth and fifth half-month cycles forward from the date of trade.

For instance, on June 28, Platts assesses cargoes for delivery in H2 July, H1 August and H2 August.

The Platts NWE and SWE LNG assessments represent the average of the two half-month cycles which comprise the first full month of delivery, or on June 28, the average of H1 August and H2 August.

In addition, Platts has launched on June 28, 2010, daily spot charter rate Atlantic LNG carrier assessments (ATDR).

The day rate covers the daily cost of chartering an LNG vessel for a short (30-60-day) period for carriers delivered in the Atlantic region, without regional transfer costs.

The ATDR assessment reflects market value prevailing at the close of European markets (4:30pm London time).

Platts NWE LNG, SWE LNG and ATDR assessments and market commentaries are published on Natural Gas Alert (NGA), European Power Alert (EPA), Platts LNG TraderNet, in Platts LNG Daily, and Platts Dispatch.

For questions and comments, please email GlobalLNG@platts.com.