LNG

December 29, 2023

Platts clarifies timing, increments for JKM LNG Forwards MOC

Platts, part of S&P Global Commodity Insights, is clarifying the timing and increments for the upcoming launch of JKM Forwards (JKMF) for information reported during the Asia-Pacific LNG Platts Market on Close assessment process.

For price improvements made to a bid or an offer, the minimum is 1 cent/MMBtu every 20 seconds and the maximum would be 10 cents/MMBtu every 20 seconds. To repeat a bid or an offer after a trade, the initiator must do so within 20 seconds.

The cutoff for the reporting of new bids and offers is 16.10.00 Singapore time. There is no cutoff for the final price change prior to 16.30.00.000, but price changes, repeated bids or repeated offers from 16.29.40.000-16.30.00.000 will trigger an extension period. The extension runs from 16.30.01.000 to 16.31.00.999, during which no more price change is allowed.

The above timing and increments are relevant for information reported directly via the eWindow communication tool.

For bids and offers reported manually via a Platts editor, rather than directly via the eWindow communication tool, price improvements can be made every 30 seconds, and there is a final cutoff for price changes at 16.29.30.000. Repeated bids or repeated offers from 16.29.30.000-16.30.00.000 will trigger an extension period. The extension runs from 16.30.01.000 to 16.31.00.999, during which no more price change is allowed.

Platts published a note detailing the launch of JKM Forwards on Oct. 19, 2023. Full details can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/101923-platts-to-launch-jkm-forwards-price-assessments-on-jan-16-2024

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

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.