Platts proposes to launch seasonal and calendar year JKM derivative assessments

S&P Global Platts is proposing to launch new seasonal and additional calendar year JKM LNG derivative assessments for two regional timestamps, effective December 16, 2019.

One set of the assessments would reflect a timestamp of 4:30 pm Singapore time and the other a timestamp of 4:30 pm London time.

The new seasonal assessments would reflect the two seasons beyond the active forward season, or forward-season +2 and forward-season +3, for summer or winter deliveries.

Seasons would be defined as follows: Summer = April to September, and Winter = October to March.

The two additional calendar year assessments would reflect the two calendar years beyond the active forward calendar year that Platts currently publishes.

The seasonal and calendar year JKM LNG derivative assessments would be published each business day and reflect derivatives that settle on the physical JKM assessment.

All prices will be published in dollars per million British thermal unit ($/MMBtu) to three decimal places.

Platts would consider bids, offers and trade information for a minimum of five lots (one lot is equivalent to 10,000 MMBtu) for these assessments, matching the minimum lot size considered in its other JKM derivatives assessments.

The seasonal assessment rolls over on the first working day of the new season for the Pricing Month derivative JKM.

For example, on March 16, 2020, Platts would assess the Win-20 and Sum-21 prices. On September 16, Platts would assess the Sum-21 and Win-21 prices.

The Calendar Year assessments rolls over on the first business day of the year.

For example, the Cal 2020, 2021 and 2022 JKM derivative assessments roll into Cal 2021, 2022 and 2023 on January 2, 2019. Platts previously proposed the launch to be effective November 18, 2019.

Platts send all questions and feedback to LNGeditorialteam@spglobal.com and pricegroup@spglobal.com by October 11.

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.