August 28, 2019 / 1:43 AM / 19 days ago

Platts to add new pricing LNG assessment in Singapore

SINGAPORE, Aug 28 (Reuters) -

* S&P Global Platts will add a free-on-board Singapore liquefied natural gas (LNG) assessment from Oct. 1, the company said late Tuesday

* The netback assessment will be calculated by subtracting the freight rate from Singapore to Japan or Korea from its benchmark Japan-Korea-Marker (JKM) assessment, the company said in a note to subscribers

* This would be on an FOB basis and would assume a voyage time of seven days from Singapore to Japan or Korea at 17 knots, the company added

* It is seeking feedback from its subscribers

* Platts’ JKM assessment is turning to be widely adopted as a benchmark in spot trading (Reporting by Jessica Jaganathan, Editing by Sherry Jacob-Phillips)

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