Platts to change WIM, SEAM LNG standard cargo quantity specifications

Platts, part of S&P Global Energy, will change the standard cargo quantity specification for the Asia-Pacific LNG assessments Platts West India Marker (WIM) and Platts Southeast Asia Marker (SEAM), effective Sept. 16.

As a result of the change, the Platts WIM and SEAM would reflect a quantity range of 3.2-3.6 TBtu +/-5% operational tolerance at the seller's option, compared with the current standards of 3.3 TBtu +/-5% for WIM and 3.4 TBtu +/-5% for SEAM.

Other quantity ranges and discrete quantities may be considered and normalized to this standard.

The proposal is based on market feedback that the most commonly traded cargo quantities in the South Asia and Southeast Asia regions have 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 a specific volume no later than 30 days prior to the initial delivery window.

The change follows the proposal on July 28.

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.