S&P Global Platts proposes to launch yuan conversions of JKM LNG assessment

S&P Global Platts is proposing to launch daily Chinese yuan per metric ton (yuan/mt) and yuan per MMBtu (yuan/MMBtu) conversions of the Platts JKM LNG assessment, effective December 16, 2019.

Under the proposal, the JKM assessment (AAOVQ00), which represents the average of the two half-month cycles which comprise the first full month of delivery, would be converted into yuan/mt and yuan/MMBtu from $/MMBtu.

The conversions would be calculated on a daily basis using a currency exchange rate (AAWFW00) published daily on working days in Singapore, with a factor of 52 for the MMBtu to metric ton conversion.

The addition of yuan-converted JKM reflects the rapid growth of spot LNG volumes delivered to China and facilitates comparisons between LNG spot import and domestic market prices. Platts previously proposed the launch to be effective November 18, 2019.

Please send any comments or feedback to LNGeditorialteam@spglobal.com and copied to pricegroup@spglobal.com by October 11, 2019. 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.