Platts launches new Asia-Pacific LNG price differential assessments

Platts, part of S&P Global S&P Global Energy, has launched new JKM price differential assessments for the spread between JKM derivatives and half-month assessments at the close of Asia-Pacific markets, 4:30 pm Singapore time, effective Feb. 23, 2026.

This follows industry feedback regarding the use of JKM derivatives as a key pricing basis for trading LNG cargoes in the Asia-Pacific region.

The new assessments include:

• The price difference between the first JKM half-month assessment <AAPSU00> and the JKM balance-month derivative <LJKMB00>
• The price difference between the second JKM half-month assessment <AAPSV00> and the JKM balance-month derivative <LJKMB00>
• The price difference between the third JKM half-month assessment <AAPSW00> and the JKM balance-month derivative <LJKMB00>
• The price difference between the fourth JKM half-month assessment <AAPXA00> and the JKM balance-month derivative <LJKMB00>
• The price difference between the first JKM half-month assessment <AAPSU00> and the M+1 JKM derivative <LJKMO01>
• The price difference between the second JKM half-month assessment <AAPSV00> and the M+1 JKM derivative <LJKMO01>
• The price difference between the third JKM half-month assessment <AAPSW00> and the M+1 JKM derivative <LJKMO01>
• The price difference between the fourth JKM half-month assessment <AAPXA00> and the M+1 JKM derivative <LJKMO01>
• The price difference between the third JKM half-month assessment <AAPSW00> and the M+2 JKM derivative <LJKMO02>
• The price difference between the fourth JKM half-month assessment <AAPXA00> and the M+2 JKM derivative <LJKMO02>

Furthermore, Platts is launching price differentials between JKM forwards and JKM derivatives, as well as between JKM forwards and half-month assessments:

• The price difference between the JKM M+1 derivative <LJKMO01> and JKM forward M1 <ALJKA00>
• The price difference between the JKM M+2 derivative <LJKMO02> and JKM forward M2 <ALJKB00>
• The price difference between the first JKM half-month assessment <AAPSU00> and JKM forward M1 <ALJKA00>
• The price difference between the second JKM half-month assessment <AAPSV00> and JKM forward M1 <ALJKA00>
• The price difference between the third JKM half-month assessment <AAPSW00> and JKM forward M1 <ALJKA00>
• The price difference between the fourth JKM half-month assessment <AAPXA00> and JKM forward M1 <ALJKA00>
• The price difference between the first JKM half-month assessment <AAPSU00> and JKM forward M2 <ALJKB00>
• The price difference between the second JKM half-month assessment <AAPSV00> and JKM forward M2 <ALJKB00>
• The price difference between the third JKM half-month assessment <AAPSW00> and JKM forward M2 <ALJKB00>
• The price difference between the fourth JKM half-month assessment <AAPXA00> and JKM forward M2 <ALJKB00>

Platts first proposed to launch these price differentials on Nov.12 and then decided to launch these differentials on Dec. 23, 2025.

Full details of the existing Platts Asia-Pacific LNG assessments can be found in the Global LNG Specifications Guide.

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