Platts defines base volume for DES Europe LNG assessments

Following market feedback, S&P Global Platts has defined a base volume of 3.5 TBtu (plus/minus 5% operational tolerance) for its DES Northwest Europe LNG Marker, and 3.3 TBtu (plus/minus 5% optol) for its DES Mediterranean LNG Marker, effective July 1, 2021.

Platts first proposed defining a base volume for the DES NWE and DES Med marker assessments in a subscriber note published April 30: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/043021-platts-proposes-base-volume-for-des-europe-lng-assessments-from-july-1

The base volumes reflect the commonly traded cargo quantities into these markets, and follows Platts analysis of market and trade data.

From July 1, Platts DES NWE Marker assessment reflects a single standard cargo volume of 3.5 TBtu (plus/minus 5% optol), and the DES Med Marker assessment reflects a single standard cargo volume of 3.3 TBtu (plus/minus 5% optol).

The optol is at the seller's option.

Bids, offers and trades in the Platts Atlantic LNG MOC assessment process for a different single cargo quantity or in a volume range may be normalized to the standard cargo quantities.

Previously, Platts DES NWE and MED Marker assessments did not reflect a specific standard cargo quantity, and Platts considered for publication bids and offers for typical cargo sizes in the MOC process.

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:

Assessments Code Mavg

LNG NWE Spot DES AASXU00 AASXU03

LNG NWE Spot DES 1 Half-Month AASXV00 AASXV03

LNG NWE Spot DES 2 Half-Month AASXW00 AASXW03

LNG NWE Spot DES 3 Half-Month AASXX00 AASXX03

LNG MED Spot DES AASXY00 AASXY03

LNG MED Spot DES 1 Half-Month AASXZ00 AASXZ03

LNG MED Spot DES 2 Half-Month AASYA00 AASYA03

LNG MED Spot DES 3 Half-Month AASYB00 AASYB03

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