<\/p>\n
Platts, part of S&P Global Energy, has changed the standard cargo quantity specification reflected in the methodology for its JKM LNG benchmark and JKM Forwards price assessments, effective Feb. 16.<\/p>\n
The Platts JKM assessment now reflects a standard cargo quantity range of 3.3-3.5 TBtu +\/- 5% operational tolerance at the seller\u2019s option, compared with the previous standard of 3.4 TBtu +\/- 5% operational tolerance at the seller\u2019s option.<\/p>\n
Quantity ranges other than 3.3-3.5 TBtu and discrete quantities will be considered and normalized to this standard for assessment purposes, but the maximum range stated in offers should be no greater than 0.3 TBtu.<\/p>\n
This change was proposed in a subscriber note published on Nov. 11, 2025, subsequent to a consultation that commenced on Aug. 26, 2025.<\/p>\n
The proposal and consultation were based on market feedback that the most commonly traded cargo quantity in the Asia-Pacific spot market has evolved in recent years due to the rise of portfolio-based trading, diversification of supply origins, and greater flexibility within destination markets in Northeast Asia.<\/p>\n
A decision note was published on Jan. 7, 2026.<\/p>\n
For bids, offers, and trades submitted in a volume range, the seller retains the option to declare the discrete volume latest by 30 days prior to the initial delivery window.<\/p>\n
Accordingly, bids, offers, and trades with delivery windows more prompt than 30 days from the assessment date continue to reflect a standard cargo quantity of 3.4 TBtu. Other quantities are considered and normalized to this standard for assessment purposes. However, Platts does not publish any prompt offer with a quantity range.<\/p>\n
JKM Forwards
Furthermore, the standard deliverable cargo volume stemming from a convergence of JKM Forwards trades is now 3.3-3.5TBtu +\/- 5% operational tolerance at the seller\u2019s option range, in line with the proposed JKM standard cargo volume, compared with the previous standard of 3.4 TBtu +\/- 5% operational tolerance at the seller\u2019s option.<\/p>\n
The converged cargo continues to be priced on a $\/MMBtu basis at the arithmetic mean of the 10 JKM Forwards (of 340,000 MMBtu each) that make up the converged cargo.<\/p>\n
Platts also continues to reflect trades in which any outstanding front-month JKM Forwards, which amount to less than 3.4 TBtu by the 15th of the month, or the nearest prior business day if the 15th is a holiday, are cash settled. <\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" … has changed the standard cargo<\/span> quantity specification reflected in … Furthermore, the standard deliverable cargo<\/span> volume stemming from a … the proposed JKM standard cargo<\/span> volume, compared with the … that make up the converged cargo<\/span>. Platts also continues to …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-92282","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/92282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=92282"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/92282\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=92282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=92282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=92282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Source: Platts<\/a> <\/p>\n