Following market feedback, S&P Global Platts will define a base volume of 3.5 TBtu (+/- 5% operational tolerance) to be reflected in its DES Northwest Europe LNG Marker, and 3.3 TBtu (+/-5% optol) for its DES Mediterranean LNG Marker from July 1, 2021.
Platts first proposed defining a base volume for the DES NWE and DES Med marker assessments in a subscriber note published April 30, 2021: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/043021-platts-proposes-base-volume-for-des-europe-lng-assessments-from-july-1.
The base volumes would better reflect the commonly traded cargo quantities into these markets, and follows Platts analysis of market and trade data. From July 1, Platts DES NWE Marker assessment will reflect a single standard cargo volume of 3.5 TBtu (+/- 5% optol), and the DES Med Marker assessment will reflect a single standard cargo volume of 3.3 TBtu (+/- 5% optol). The optol is at the seller's option.
Bids, offers and trades in the Platts Atlantic LNG MOC assessment process for a different single cargo quantity or in a volume range may be normalized to the standard cargo quantities. Currently, Platts DES NWE and MED Marker assessments do not reflect a specific standard cargo quantity, and Platts considers for publication bids and offers for typical cargo sizes in the MOC process.
The affected assessments appear in LNG Daily, Platts LNG Alert pages 888, 889, 1820, 1821, 1830, 1831, Platts Natural Gas Alert pages 1020, 1044, 1046, 1047, 1048, 1049, and under the Platts price database codes below:
Assessment Code and Mavg
LNG NWE Spot DES AASXU00 AASXU03
LNG NWE Spot DES 1 Half-Month AASXV00 AASXV03
LNG NWE Spot DES 2 Half-Month AASXW00 AASXW03
LNG NWE Spot DES 3 Half-Month AASXX00 AASXX03
LNG MED Spot DES AASXY00 AASXY03
LNG MED Spot DES 1 Half-Month AASXZ00 AASXZ03
LNG MED Spot DES 2 Half-Month AASYA00 AASYA03
LNG MED Spot DES 3 Half-Month AASYB00 AASYB03
Please send any questions, comments or feedback on this proposal to LNGeditorialteam@spglobal.com and firstname.lastname@example.org. 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.