Platts proposes change to Atlantic LNG cargo quantity standard specification

Platts, part of S&P Global Energy, is proposing a change to the standard cargo quantity specification reflected in the methodology for its Atlantic LNG price assessments, effective June 16, 2026.

Under this proposal, the Platts Northwest Europe, Mediterranean and East Mediterranean assessments would reflect a standard cargo quantity range of 3.4-3.7 TBtu +/- 5% operational tolerance at the seller's option, compared with the current standard of 3.5 TBtu +/- 5% operational tolerance at the seller's option for NWE and 3.3 TBtu +/- 5% operational tolerance at the seller's option for MED and EMM.

At the same time, the FOB Gulf Coast marker would reflect a standard cargo quantity range of 3.6-3.8 TBtu +/- 2% operational tolerance at the seller's option, compared with the current standard of 3.7 TBtu +/- 2% operational tolerance at the seller's option.

For DES Brazil, Platts is proposing that it would reflect standard cargo quantity range of 3.4-3.6 TBtu +/- 5% operational tolerance at the seller's option, compared with the current standard of 3.5 TBtu +/- 5% operational tolerance at the seller's option.

Other quantity ranges and discrete quantities may be considered and normalized to this standard for assessment purposes, but the maximum range stated in offers would be no greater than 0.3 TBtu.

The proposal is based on market feedback that the most commonly traded cargo quantity in the Atlantic spot market has evolved in recent years due to the rise of portfolio-based trading, diversification of supply origins and greater flexibility within destination markets. It also follows the change to the JKM LNG benchmark and JKM forward price assessments made Feb. 16.

For bids, offers and trades submitted in a volume range, the seller would retain the option to declare the discrete volume at the latest by 30 days prior to the initial delivery window.

Accordingly, Platts is proposing that bids, offers and trades in the Platts Market on Close assessment process with delivery windows prompter than 30 days from the assessment date would continue to reflect a standard cargo quantity of 3.5 TBtu for NWE, MED and EMM. Other quantities might be considered and normalized to this standard for assessment purposes. Platts would not publish a quantity range for offers with delivery windows prompter than 30 days from the assessment date.

The proposed changes are as follows:

Please send all comments, feedback, and questions to LNGeditorialteam@spglobal.com and pricegroup@spglobal.com by May 6, 2026.

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.