Platts to change publishing schedule for GCM, WIM LNG pricing month derivative assessments

Platts, part of S&P Global Energy, will change the publishing schedule of its US Gulf Coast Marker (GCM) LNG and West India Marker (WIM) pricing month derivative assessments, effective Nov. 16.

Platts will cease publication of WIM pricing month derivatives and GCM M1 derivatives five business days prior to the end of their respective pricing month. In conjunction, Platts will amend the roll logic of the JKM/GCM derivative spreads to fully reflect the calendar month of the underlying JKM derivative.

This follows a proposal Platts published on Sept. 29, 2026, available here.

GCM derivatives

GCM derivatives trade on a calendar month basis, with a monthly roll at the end of each month.

Platts will publish the GCM Mo1 derivative assessment (LNGFA00) from the first business day of each calendar month, through the sixth-last publishing day of the month preceding delivery. The change will align the publication schedule of the GCM Mo1 derivative assessment with that of the Platts DES Northwest Europe (NWE) Mo1 derivative assessment (LNGDA01).

For example, the January 2027 GCM Mo1 derivative assessment will be published from Dec. 1, 2026, through Dec. 22, 2026, the sixth-last publishing day of December.

Under the decision, the JKM/GCM spread assessments will align with the same calendar month as the underlying JKM derivative assessment. For example, during Dec. 1-8, 2026, the LNG Japan/Korea financial Pricing Month vs LNG FOB GCM financial Mo1 (LNGFG00) will reflect the spread between January 2027 JKM and GCM derivatives. During Dec. 9-15, no spread assessment will be published. From Dec. 16, onward, the assessment will reflect the spread between February 2027 JKM and GCM derivatives, following the roll of the underlying JKM derivative contract to February.

As part of this change, the subsequent month spreads will also align on an equivalent calendar basis and will be renamed as such. For example, LNG Japan/Korea financial Mo1 vs LNG FOB GCM financial Mo2 (LNGFH00) will be renamed "LNG Japan/Korea financial Mo1 vs LNG FOB GCM financial."

GCM and GCM-linked derivatives follow the UK publishing schedule.

WIM derivatives

WIM derivatives trade on a calendar month basis, with a monthly roll around the 16th of each month.

Platts will publish the WIM pricing month derivative assessment (AWIMB00) from the first assessment day of a delivery month through the sixth-last assessment day of the same month. The change will align the publication schedule of the WIM pricing month derivative assessment with that of the Platts JKM pricing month derivative assessment (LJKMO00).

For example, the January 2027 WIM pricing month derivative assessment will be published from Nov. 16, 2026, through Dec. 8, 2026, the sixth-last assessment day of December for January WIM derivatives.

Platts has observed limited liquidity in pricing month derivative contracts during the final five assessment days before expiry. The changes will better reflect prevailing trading activity and align the publication schedules of the GCM and WIM pricing month derivative assessments with the conventions of their respective LNG derivative markets.

Platts will also cease publishing floating physical bids and offers linked to the pricing month during the final five assessment days prior to expiry through the relevant LNG Market on Close assessment process.

These assessments can be found in LNG Daily, and in the fixed pages LNG0019, LNG0820, LNG2499, PGN1031, LNG0888 and LNG1822.

Please send all feedback, comments 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.