Platts updates cargo quantity, delivery window for West India Marker LNG assessments

Platts, part of S&P Global Commodity Insights, has updated the cargo quantity and delivery window reflected in its daily Platts West India Marker (WIM) LNG price assessments, effective Dec. 18.

The standard LNG cargo quantity for Platts WIM is now 3.3 TBtu, plus/minus 5% operational tolerance, changing from the earlier standard LNG cargo quantity considered for WIM of 3.2 TBtu, plus/minus 5% operational tolerance.

The initial delivery window is now three days with the buyer to narrow to a one-day final delivery window 30 days prior to the first day of the initial delivery window, changing from the earlier standard considered for WIM of a three-to-five day initial delivery window with the buyer to narrow to a one- or two-day final delivery window 30 days prior to the first day of the traded delivery window.

The changes are in line with industry feedback and observed changes in trading patterns and norms.

Platts continues to consider for publication bids, offers and trades with terms that differ from these standards, but may normalize them to these standards for its price assessment.

Platts published the decision to make these changes Nov. 14 via a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/111423-platts-to-update-cargo-quantity-and-delivery-window-for-west-india-marker-wim-lng-price-assessments, having reviewed market feedback following a proposal published Oct. 19 via a subscriber note available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/101923-platts-proposes-update-to-cargo-quantity-and-delivery-window-for-west-india-marker-wim-lng-price-assessments

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

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