Platts clarifies standard volume nomination deadline in JKM LNG MOC

S&P Global Platts is clarifying the standard nomination deadline for bids, offers and trades reported in a volume range in its Market on Close assessment process for the JKM LNG assessment.

S&P Global Platts is clarifying the standard nomination deadline for bids, offers and trades reported in a volume range in its Market on Close assessment process for the JKM LNG assessment.

The Platts standard nomination deadline for indications is up to 30 days prior to delivery, by which point the seller should notify the buyer of the specific volume (+/-5% operational tolerance) to be delivered.

For example, for a cargo offered or bid in a volume range (i.e. 3.1-3.4 TBtu +/-5% optol), the specific volume (i.e. 3.4 TBtu +/-5% optol) should be declared by the seller up to 30 days prior to delivery.

Unless stated otherwise by the counterparty at the time of providing data for publication, the bids and offers provided for publication in the MOC should reflect the above standard.

This aligns with standard market practice, as well as that of the majority of bids, offers and trades reported during the MOC process.

Previously, Platts did not define a standard nomination deadline for bids, offers and trades reported in a volume range for the JKM assessment.

Platts may publish bids, offers and trades for LNG cargoes that carry different terms and conditions, but may normalize these when considered in final, published assessments.

Participants in the MOC process should clearly state in submitted bids or offers terms that differ from these standards. Please submit questions and feedback to LNGeditorialteam@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.