Platts clarifies nomination guidelines for cargoes loading within the Persian Gulf in its LNG MOC process

Effective immediately, March 2, Platts, part of S&P Global Energy, will not publish offers with loading port nominated as Qatar's Ras Laffan LNG terminal or Abu Dhabi's Das Island LNG terminal, via the Platts LNG Market on Close (MOC) assessment process, until further notice.

Sellers should also not nominate Ras Laffan or Das Island either as a base loading port when expressing interest to trade a bid in the MOC process or as an alternative loading port following a trade reported via the MOC process, as such nominations would require ships to transit the Strait of Hormuz.

Platts would like to remind market participants that those who are intending to sell should not offer when there is a known and distinct possibility that loading or delivery may be delayed.

This clarification applies to both the Asia-Pacific and Atlantic MOC processes covering LNG price assessments that include the Platts JKM, WIM, SEAM, NWE and MED price assessments.

Market participants have notified Platts that many major shipping companies have halted transit through the Strait of Hormuz amid heightened safety concerns after Israel and the US launched air strikes on Iran on Feb. 28.

Platts will continue to monitor performance against trades previously reported in the LNG MOC process in line with existing editorial guidelines.

During this period, Platts invites further comments regarding the extent and likely duration of these shipping restrictions, as well as their impact on the deliverability of LNG loading from within the Straits of Hormuz in the Platts MOC process.

For more details on guidelines regarding expectations of MOC trade performance, refer to: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf

Please send all feedback and comments 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 will make comments not marked as confidential available upon request.