WIM reflects the daily tradeable value of a spot LNG cargo at the given delivery period and location, based on trades, bids, offers and indications of tradeable value reported to S&P Global Platts pricing specialists.
Platts uses a Market-on-Close (MOC) assessment methodology which is a day-long process that ends at 4:30 pm Singapore time—the timestamp for Platts LNG assessments in Asia.
Structured and highly transparent, the MOC is a process in which LNG bids, offers, and transactions are submitted by participants to Platts editors and published in real-time throughout the day until the market close. Following the close, Platts editors examine the data gathered through the day, conduct their analysis and develop price assessments that reflect an end-of-day value.
Firm bids, offers and trades from companies are published on the Platts Editorial Window (eWindow) - an online communications tool that enables users to electronically enter and immediately view, bids, offers, and transaction data.
As soon as the data goes into Platts' editorial system, it is published in real-time on Page 008 of Platts LNG Alert (LNG) and Page 001 of Platts Natural Gas Alert (PGN) as well as on Platts Platform.
Besides information published in the LNG MOC process, Platts editors also engage directly with producers, consumers, traders, brokers and shippers to gather price information. Platts publishes this information and uses it to assess intraday values, which serve as the reference point for any firm bids, offers, and trades in the MOC process.
The information gathered through market surveys is considered in the final assessment alongside bids, offers and trades reported in the MOC. The firm bids, offers that are open to the whole market, and trades resulting from that take precedence in the final assessment.
These inputs are published throughout the day, in real-time, in the form of "market heards", to allow Platts to test the information, which forms the basis of the assessment and for market participants to give feedback on those inputs.
Platts assessments normalize for a range of dimensions including timing/delivery dates, quantity, location, terms of trade and quality.
For more details, please refer to our LNG methodology and specifications guide.