S&P Global Platts published for the very first time a firm and transparent bid in its Asia LNG assessment process on June 13, 2018. Since then, Platts has been publishing transparent bids, offers and trades in the LNG Market on Close process from several market participants on an almost daily basis.
This level of transparency is rare in LNG trading. Kenneth Foo, LNG price assessment team leader, and Gurdeep Singh, senior specialist for methodology development, explain the Asia LNG MOC process, what it means for the broader market as well as for the Platts assessment of the JKM benchmark.