The new LNG assessment, called the Platts East Atlantic Marker (EAM), complements the Asia LNG benchmark, Platts JKM and Platts’ broader suite of LNG price references serving the Middle East, Australia, west India and southwest and northwest Europe.

Platts EAM reflects the value of spot market LNG cargoes on a free-on-board basis originating from countries including Spain, Netherlands, Norway, Belgium, France, Nigeriaand Algeria, and delivered primarily to key consumer regions in South America and Asia-Pacific.

The new price reference follows months of consultation with the energy industry and LNG market participants.

The Platts EAM and other Platts LNG price references are published in Platts LNG Daily, as well as Platts' Natural Gas Alert and European Power Alert.

Platts EAM was assessed on January 7 at $US8.70 per million British thermal units, which is in line with the two half-month cycles of February, while the EAM price for the second half of January stands at $8.75/MMBtu.

The Platts EAM marker assessment represents the average of the two half-month cycles (H1, H2) that comprise the first full month of loading. For instance, on June 4, Platts' EAM (July) represents the average of price assessments for cargoes for loading in H1 July and H2 July.

“Whether being sold to Brazil and Argentina, or into the Asia Pacific, end destinations for LNG originating in the East Atlantic have grown in diversity and frequency,” Desmond Wong, Platts managing editor for LNG in Europe, Middle East and Africa, said.

“With the increased demand for flexible volumes in both basins, greater spot market liquidity has been seen in free on board transactions, and market participants tell Platts they expect this to continue.”