S&P Global Platts wishes to clarify how the midpoints of the delivery periods of physical cargoes with an even number of days are considered in the Asia Pacific LNG Platts Market on Close assessment process.
For delivery periods of two days and four days long, the midpoint considered on the assessment curve would be based on the daily physical structure that determines the buyer's nomination.
For example, for a delivery period of March 3-6, the midpoint considered on a curve reflecting a daily contango structure would be March 5.
Similarly, for a delivery period of March 3-6, the midpoint considered on a curve reflecting a daily backwardation structure would be March 4.
For a delivery period of March 7-8, the midpoint considered on a curve reflecting a daily contango structure would be March 8.
Similarly, for a delivery period of March 7-8, the midpoint considered on a curve reflecting a daily backwardation structure would be March 7.
The standard delivery period reflected by bids and offers will continue to be three to five days long, with the buyer to narrow to a one- or two-day delivery window 30 days before the first day of the traded delivery window.
The maximum delivery period Platts considers for publication in bids, offers and trades in the Asia Pacific LNG MOC assessment process will continue to be no greater than five days long.
Information published in the Platts Asia LNG MOC process is taken into consideration for the JKM, WIM and MEM price assessment process.
Furthermore, Platts is clarifying that the midpoints considered for the first-half of the month and the second-half of the month in the assessment curve would be the 8th and the 23rd calendar day of the month, respectively.
For example, in the month of March, the midpoint of H1 March would be March 8, and the midpoint of H2 March would be March 23.
This clarification aims to specify how data is considered in the assessment of daily physical structure reflected in Platts Asia-Pacific LNG assessments.
Platts invites all questions and feedback to firstname.lastname@example.org and email@example.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.