Platts to expand French PEG natural gas market reporting

Following industry feedback, Platts, part of S&P Global Commodity Insights, has decided to extend its current French Point d'Echange de Gaz (PEG) natural gas offering to two additional months, one quarter, one season and one calendar year, effective Aug. 1.

The decision follows PEG's increasing importance as an LNG hub and gas conduit into the rest of Europe following Russia's war on Ukraine in 2022. The extension will bring further transparency and enable a better understanding of the PEG's competitiveness against other LNG entry points into Europe, like the Dutch TTF, the German THE and the Belgian ZTP.

The new daily assessments will reflect the physical gas price for the following delivery periods:

Month Ahead+1, Month Ahead+2, Quarter Ahead, Season Ahead, Calendar Year 1.

These would be added to Platts' existing PEG offering of: Day Ahead and Month Ahead contracts (assessed daily) and weekly assessments for the Weekend contract (assessed on Fridays only).

These prices will be assessed in Eur/MWh and converted into $/MMBtu, pence/therm and Eur/GJ, utilizing standard conversion factors (https://www.spglobal.com/platts/PlattsContent/assets/files/en/conversiontables/conversion_factors.pdf) and prevailing foreign exchange rates at the time of the assessment.

The new assessments will reflect the value at the close of the market at 4:30 pm London time and will follow the UK publishing schedule.

The decision follows a proposal note published June 13 which can be found here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/061324-platts-proposes-additional-french-peg-natural-gas-assessments

Platts will publish the additional PEG assessments daily on the Natural Gas news wires (PGN0840 , PEP082), and in the European Gas Daily publication alongside its existing PEG natural gas prices.

The full description of the existing natural gas methodology in Europe can be found here: https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/eurogasmetho.pdf

Platts publication schedule can be found here: https://www.spglobal.com/platts/en/our-methodology/holiday.

Please send comments or questions to eurogas_pricing@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.

Platts will consider all comments received and will make comments not marked as confidential available upon request.