Platts clarifies guidelines on port nominations in its LNG MOC process

Platts, part of S&P Global Commodity Insights, would like to remind market participants that performance is paramount for cargo trades reported via the Platts LNG Market on Close assessment process.

Platts will not publish during its MOC process any offer with loading port or bid with discharge port under force majeure.

Should the loading port stated in the terms, quality and conditions of an offer or nominated following a trade be subsequently subject to force majeure, Platts expects the seller to nominate an alternative load port. Buyers should not unreasonably reject an alternative load port nomination.

Similarly, should the discharge port stated in the terms, quality and conditions in a bid or nominated following a trade be subsequently subject to force majeure, Platts expects the buyer to nominate an alternative discharge port. Sellers should not unreasonably reject an alternative discharge port nomination.

These guidelines apply to bids, offers and trades published via the Platts LNG MOC assessment process.

For more details on guidelines regarding expectations of MOC trade performance, refer to: https://www.spglobal.com/commodityinsights/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf

Please send all feedback and comments 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.