Platts clarifies publication of Russia-origin LNG and vessel language in WIM, MEM LNG MOC

Platts, part of S&P Global Commodity Insights, is clarifying that its West India Marker (WIM) and the Middle East Marker (MEM) LNG assessments continue to reflect open-origin material with no restrictions of performing vessels for cargo deliveries into West India and the Middle East.

Following feedback from market participants and recent trading practices in Asia, Platts may publish exclusions stated in the Terms, Quality and Conditions (TQC) box for the nomination of Russia-origin LNG and Russia LNG vessels during the Market on Close assessment process for WIM and MEM -- but these would be subject to normalization to the standard.

Russian LNG vessels would include vessels that are Russian flagged, registered, owned, controlled, chartered, or operated. Platts is aware that market participants continue to use a variety of contractual language related to Russian vessels. Counterparties are expected to perform on trades reported in the MOC based on typical terms that have been applied and accepted in the open market.

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