Platts extends feedback period for Rotterdam Bio-LNG Bunker Fuel assessment

Platts, part of S&P Global Commodity Insights, is extending to Sept. 30 the feedback period on the launch of a daily Rotterdam Bio-LNG Bunker Fuel price assessment reflecting market value of spot bio-LNG bunker fuel delivered on a barge-to-ship basis in Rotterdam.

Platts is also pushing back the proposed launch date of the assessment to Nov. 1.

During the extension period, Platts invites feedback on all of the proposed standard specifications below, especially around the carbon intensity and greenhouse gas saving of the bio-LNG reflected in the assessment.

The Rotterdam Bio-LNG Bunker assessment would reflect market prices of unsubsidized Bio-LNG with sustainability documentation stating a carbon intensity, or an equivalent greenhouse gas saving, when compared with the fossil fuel comparator, as per the EU's Fuel Quality Directive calculation, in line with the maximum carbon intensity, or the equivalent minimum greenhouse gas saving respectively, under the prevailing Renewable Energy Directive.

For clarity, until a new RED becomes effective, the Rotterdam Bio-LNG Bunker assessment would reflect unsubsidized Bio-LNG with sustainability documentation stating a carbon intensity of 28 g CO2e/MJ, or an equivalent greenhouse gas saving of 70%, when compared with the fossil fuel comparator, as per the European Union's Fuel Quality Directive calculation, under RED III.

FREQUENCY: The Rotterdam Bio-LNG Bunker Fuel assessment would be published each business day and reflect market values prevailing at the close of European markets, at 4:30 pm London time.

BASIS AND LOCATION: Platts would consider the prevailing tradable values of bio-LNG bunker fuel in the locations on a barge-to-ship (delivered) basis in Rotterdam.

Truck-to-ship (ex-wharf) basis would also be considered for the assessment process but may be subject to normalization.

The bio-LNG bunker fuel assessment would include the logistics costs from the terminal to the barge or truck, and charges for delivery direct to the receiving vessel.

Prices of trucked bio-LNG and bio-LNG bunkers delivered into ISCC certified ports across Northwest Europe may be considered and normalized to the above specifications.

TIMING: The Rotterdam Bio-LNG Bunker Fuel assessment would be for bunker deliveries 7-30 days ahead.

VOLUME: The assessed volume would be for deliveries of 100-200 metric tons. Sizes above and below may be normalized for assessment purposes.

UNIT: The assessment would be published on an outright price basis in $/MMBtu and Eur/MWh, and as a differential, in $/MMBtu, to Platts DES Northwest Europe (AASXU00) assessment.

In addition, Platts would publish price differentials, comparing Rotterdam Bio-LNG Bunker Fuel against Rotterdam LNG Bunker Fuel (LNBRD00), Dutch TTF 1-Mo (GTFWM10) and Dutch TTF 2-Mo (GTFWM20) respectively.

A conversion to $/mt of LNG would also be published from the $/MMBtu assessment using a factor of 52.

The assessment would be published in Platts LNG Daily, Bunkerwire and Platts LNG Alert pages LNG0860 and LNG0861.

Platts first proposed the change on Aug. 20 in a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/082024-platts-proposes-des-rotterdam-bio-lng-bunker-fuel-assessment

Please send all feedback, comments, and questions to LNGeditorialteam@spglobal.com and pricegroup@spglobal.com by Sept. 30.

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 make comments not marked as confidential available upon request.