Platts to launch sixth half-month forward European LNG assessments

Platts, part of S&P Global Energy, will launch sixth-half month forward cycle assessments, H+6, for Platts DES Northwest Europe (NWE), DES Mediterranean (MED) and DES East Mediterranean (EMM) LNG, time stamped to 4:30 pm London time, effective April 1.

Platts has received feedback and observed reported market activity that indicates that bid, offer and trade activity is increasing for deliveries occurring further forward. The launch was proposed on Feb. 11, available here.

The assessments will reflect cargoes for delivery in the sixth half-month forward cycle from the date of publication. They will roll on the 16th of each calendar month, or the first business day after the 16th if it is a non-working day. For example, on April 16, the H+6 assessments would reflect July 1-15 pricing and on May 1, the H+6 assessments will reflect July 16-31 pricing.

This does not impact the underlying methodology for the DES NWE, DES MED and DES EMM pricing month assessments, and the calculation of these assessments will remain unchanged.

The DES NWE, DES MED and DES EMM pricing month assessments represent the average of the two half-month cycles from the third half-month cycle onwards, which comprise the first full month of delivery. There will also be no impact to the calculation of the cumulative monthly averages.

For example, on April 1, the DES NWE, DES MED and DES EMM will continue to represent the average of price assessments for cargoes for delivery in H1 May and H2 May.

Platts will also launch new assessments for the spread between LNG and European pipeline gas prices, involving the new physical half-monthly NWE assessments.

The new assessments will include the price difference between the relevant-month Dutch TTF contract and the Platts DES NWE 6 Half-Month.

Full details of the existing Platts DES NWE 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.

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