LNG

May 18, 2026

Platts changes increments and timing guidelines for Asia LNG derivatives MOC

Platts, part of S&P Global Energy, has changed the timing and increments guidelines for the Asia Market on Close derivatives assessment process on May 18.

Platts first proposed the changes on Feb. 27, in a subscriber note available here , with the extended feedback period ending April 16.

Following an analysis of MOC data and market feedback, Platts has adjusted the timing cut-off for the submission and subsequent publication of bids and offers to 16.15.00.000 SGT, from the current 16:10:00.000 SGT.

Platts will also allow counterparties to improve a maximum of 5 cents/MMBtu per 10 seconds for bids and offers submitted through the Platts Editorial Window, or eWindow, communication tool, and 5 cents/MMBtu per 20 seconds for bids and offers submitted through a Platts editor manually.

This compares with the current maximum of 5 cents/MMBtu per 20 seconds for bids and offers submitted through the Platts Editorial Window, or eWindow, communication tool, and 5 cents/MMBtu per 30 seconds for bids and offers submitted through a Platts editor manually.

In line with the above amendments, the maximum time allowed for participants to repeat a bid or offer following a trade in the Asia LNG derivatives MOC is proposed to be 10 seconds.

As an interim measure , Platts had adjusted incrementability guidelines on March 6, 2026, to allow bids and offers for Asia LNG derivatives to improve by up to 10 cents/MMBtu every 10 seconds in response to heightened market volatility following vessel transit disruptions via the Strait of Hormuz.

With conditions having since stabilized, the measure has been lifted from May 18 alongside the implementation of the incrementability guidelines.

Separately, incrementability guidelines for APAC physical MOC will remain unchanged until further notice. Platts changed the APAC physical MOC guidelines on March 4 to allow bids and offers to improve by up to 10 cents/MMBtu every 30 seconds, in a subscriber note available here .

The following table summarizes the changes:

Category Current May 18 Current May 18
Product Asia LNG Derivatives (JKM, WIM, and their spread)
Environment eWindow Manual
Repeatability Within 20 seconds Within 10 seconds Within 30 seconds Within 20 seconds
Pricing State – No more new bids/offers 16:10:00.000 16:15:00.000 16:10:00.000 16:15:00.000
Final State N/A N/A 16:29:30:000 16:29:30:000
Repeat/Change of an order which triggers extension of the window (extension trigger period) 16:29:40.000 – 16:30:00.000 16:29:50.000 – 16:30:00.000 16:29:30.000 – 16:30:00.000 16:29:40.000 – 16:30:00.000
Period of testing the repeatability of an order repeated/changed near the close (Extension state) 16:30:01.000 – 16:31:00.999 16:30:01.000 – 16:31:00.999 16:30:01.000 – 16:31:00.999 16:30:01.000 – 16:31:00.999
Max Increment/Frequency 5 cents per 20 s 5 cents per 10 s 5 cents per 30 s 5 cents per 20 s

Platts has established clearly defined timing and increment guidelines that apply when publishing bids and offers in the MOC, in order to ensure an orderly and transparent price assessment process.

Guidelines for the publication of bids and offers in the MOC are available in the Platts LNG Timing and Increment Guide, available here .

Please send all comments, feedback and questions 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.