Daily spot LNG Netbacks FOB Australia from January 8

Platts plans to launch from January 8, 2010, daily spot netback assessments of liquefied natural gas (LNG) basis FOB Australia.

Platts will assess standard 125,000-155,000 cu m cargoes for loading in Australia, using Platts DES Japan Korea Marker (JKM) benchmark assessments minus a freight period of eight days, with cost calculations using Platts bunker oil FOB Melbourne assessments, Platts Asia Pacific LNG Day Rates (APLDR) and a standardized boil-off rate formula.

LNG FOB Australia will be assessed daily at Asian market close (0830 GMT), and published in $/MMBtu (million British Thermal Units).

Further details of assessment methodology can be found on platts.com.

Platts publishes LNG price assessments on real-time services Natural Gas Alert (NGA), Platts Electricity Alert (PEA), European Power Alert (EPA) and Platts Global Alert (PGA); in LNG Daily and on Platts LNG TraderNet.

For comments or queries please contact jonty_rushforth@platts.com and chou_hui_hong@platts.com, with a cc to pricegroup@platts.com.