Platts to launch Asia LNG physical eWindow on July 26, 2019

Platts will launch the Platts Editorial Window, or eWindow, communication tool for its Asia LNG physical Market on Close assessment process on July 26, 2019.

The instruments launched for Platts LNG will be from the 3rd to the 6th half-month forward (H+3 – H+6) in US dollars per MMBtu. Market participants can state their specific bid or offer delivery windows -- for example, 3-day or 5-day delivery windows -- within these instruments.

The instruments will allow for a variety of different delivery locations to be used in bids and offers, such as: DES JKTC (Japan, South Korea, Taiwan or China), JKC, JK, as well as for the individual locations within these acronyms. In addition, bids and offers can be submitted to Platts LNG eWindow for delivery on a DES basis to India, IDK (India, Dubai or Kuwait) or Singapore. For delivery locations relevant to Platts LNG assessments that are not listed individually, market participants can also select "DES in TQC" and input directly the DES basis of the bid or offer in the Terms, Quality & Comments (TQC) box.

The instruments launched will allow for a variety of different cargo volumes to be reported via bids and offers. For offers or bids submitted in a TBtu range, market participants can utilize the "Platts LNG (Qty in TQC)" instrument, which allows for companies to express their TBtu range in the TQC box.

The eWindow instruments will generate a different format for headlines of bids, offers and trades published on Platts Natural Gas Alert and via other Platts services.

For example, a headline that currently appears as: "Platts LNG MOC: [Company Name] OFFERS $4.50/MMBtu. DES. August 24-26. Buyer to nominate Base Discharge Port within Japan, South Korea, China or Taiwan at trade confirmation. (Buyer may nominate Alternate Discharge Port within Japan, South Korea, China or Taiwan no later than 30 days prior to initial Delivery Window, subject to SSCS. Buyer may nominate Alternate Discharge Port within same country no later than 20 days prior to initial Delivery Window, subject to SSCS) GHV 1,030-1,130 Btu/Scf in Seller option. Base Load Port: [Port Name]. (Seller may nominate Alternate Load Port no later than 30 days prior to initial Delivery Window) 3.4 TBtu+/-5% in Seller option. Base Ship: [Vessel Name] (Seller may nominate Alternate LNG Ship in capacity range of 135,000-175,000 m3 no later than 30 days prior to initial Delivery Window, subject to SSCS)," from July 26, 2019, will be published as:

"Platts LNG DES JKTC H+3 - H+6, [Company Name] offers Aug 24-Aug 26 100% Flat Price -- $4.50 for 3.4-3.4 "QUALITY: GHV 1,030-1,130 Btu/Scf in Seller option. DELIVERY WINDOW: Buyer to narrow to a 1-day delivery window no later than 30 days prior to initial Delivery Window. DISCHARGE PORT: Buyer to nominate Base Discharge Port within Japan, South Korea, China or Taiwan at trade confirmation. Buyer may nominate Alternate Discharge Port within Japan, South Korea, China or Taiwan no later than 30 days prior to initial Delivery Window, subject to SSCS. Buyer may nominate Alternate Discharge Port within same country no later than 20 days prior to initial Delivery Window, subject to SSCS. LOAD PORT: Base Load Port: [Port Name]. Seller may nominate Alternate Load Port no later than 30 days prior to initial Delivery Window. QUANTITY: 3.4 TBtu +/-5% in Seller option. LNG SHIP: Base Ship: [Vessel Name]. Seller may nominate Alternate LNG Ship in capacity range of 135,000-175,000 m3 no later than 30 days prior to initial Delivery Window, subject to SSCS." 7:55:49.834 GMT"

The last time to register price indications will remain: 15.59.59.59 Singapore time

Incrementability: Maximum of $0.05/MMBtu a minimum of every 120 seconds

Repeatability: Maximum of 60 seconds to repeat a bid or offer following a trade

Final state: 16:28:00:00

Extension: 120-second extension triggered by a change in the bid or offer, or in the event a repeat bid or offer is made in the last 120 seconds.

As per Platts editorial guidelines, buyers or sellers can withdraw bids or offers at any time, provided no prior interest to transact has been expressed by any potential counterparty.

All bids and offers are firm from the moment submitted into Platts eWindow to the moment they are traded, the eWindow period closes, or the bid/offer order is withdrawn from the system by the trader or by a Platts editor.

Please note that market participants can still send bids and offers directly to an LNG editor for publication via eWindow. The relevant timings (incrementability, repeatability, etc.) will remain the same.

Please send all feedback, comments and questions 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.