lng faq

Platts Daily Spot lng Price assessmentsHow iS SPot lng traDeD?

In the liquefied natural gas (LNG) market space, traditional patterns of trading are evolving fast. Where cargoes once changed hands only through opaque bilateral deals, the market now exhibits open sell tenders for multiple and single cargoes, brokered trades, cargoes sold in longer trading chains, and speculative trading positions taken up by non-traditional participants including banks. Over time, as in other commodities, long-term LNG contracts may adapt to spot LNG price discovery, and will no longer be dependent upon weaker correlations to oil or piped gas prices. Upstream, an increasing volume of non-associated gas supplies is breaking the production link with oil, while downstream gas demand has broadened as a new fuel for transport and industry. Market pipeline prices of natural gas are delinking from oil prices, and buyers and sellers are looking for price benchmarks that reflect the real world of shipped gas.

iS lng really traDeD on a SPot baSiS? DoeSn’t tHe lng inDuStry rely excluSively on long-term contractS?

LNG as a commodity has traditionally been sold under closed, long-term contracts. But the market is rapidly evolving. A surge in new supply from diverse sources, the entrance of a variety of new market participants and shifting demand patterns have driven the development of spot trade. Cargoes initially sold under long-term contracts now move into the spot market, where buyers and sellers seek to achieve the best possible value for each cargo.

How can Daily lng SPot Price aSSeSSmentS be uSeD?

Platts assessments can be used by anyone needing timely, independent spot LNG price information. Daily prices reflect changes in value that occur every single trading day. Consistent and respected LNG spot price information supports critical decision-making about cargo trade, arbitrage between regions, storing or transporting natural gas to markets; investment in infrastructure projects, optimal production rates, processing margins and consumption levels. Platts spot prices also facilitate hedging, transfer pricing, differential pricing and taxation.

are tHere enougH active SPot market PlayerS to make for unbiaSeD aSSeSSmentS?

Platts contacts active market participants from across the wide spectrum of the marketplace, including buyers, sellers, brokers, producers and consumers, to ensure that the real tradable value of LNG is assessed. The LNG marketplace is global and fast-growing, which demands a network of daily coverage of market activity in both Pacific and Atlantic basins. Platts achieves global coverage of LNG news and pricing from market experienced editors based in the trading hubs of Singapore, London and Houston. Platts submits its own price assessments to internal compliance for review, ensuring that they are objective and market-neutral, and that assessment processes continue to be applied consistently. Platts has more than 100 years of experience of publishing commodity prices and is fully independent from the marketplace.

iS tHere enougH liquiDity for SPot aSSeSSmentS to be verifieD?

Market observers estimate that spot trade already represents about 20% of LNG volumes produced each year. This trade includes bilateral deals, inter-regional diversions, tenders, chained cargoes and a variety of other transactions. The LNG market demonstrates a greater proportion of spot trade than most commodities, which typically are supplied under a term contract to spot ratio of 90:10. As much as 40 million metric tons (mt) of LNG, equivalent to 650 cargoes a year, are being traded on a spot basis. As global supply volumes and market participation grow, spot market liquidity will continue to build. Price transparency and market sophistication accelerate this process, by raising comfort levels behind each act of spot trade.

lng faq

wHat Daily SPot lng Price aSSeSSmentS DoeS PlattS PubliSH?

Platts is the first to publish daily assessments for LNG delivered ex-ship (DES) in Japan/Korea, and also assesses daily prices free on board (FOB) Middle East, DES West India, and FOB Australia. Platts also publishes daily Asia Pacific LNG Carrier Day Rates (APDR) to help determine the price relationship between these assessed supply and demand centers.

Expanding from its Asian spot LNG market coverage, Platts launched daily spot assessments for delivery ex-ship DES Southwest Europe (SWE) and Northwest Europe (NWE) on June 28, 2010.

wHat iS tHe bencHmark Jkm?

Platts JKM (Japan/Korea Marker) is the benchmark daily assessment of the spot price for cargoes of LNG delivered exshipinto Japan or Korea. Japan/Korea is the largest and most concentrated spot market for LNG in the world. JKM is a keyreference for calculating price differentials for every Asia-Pacific supply source and destination market. As a proxy for allAsian LNG prices, JKM is also a leading indicator for global demand growth for LNG.

Source: Platts

-1.0

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

3.0

Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10

JKM vs HHJKM vs NBPNBP vs HH

DES Japan / Korea Marker (JKM)

FOB Middle East (ME)

DES West India (Net Forward)

FOB Australia (Netback)

Asia Paci�c Carrier Day Rate (APDR)

Asia Paci�c Carrier Day Rate (APDR)

Northwest Europe (NWE)

Southwest Europe (SWE)Henry Hub

Atlantic Day Rate (ATDR)

3.75

44,000

6.54

6.20

7.30

42,000

7.65

8.40

42,000

7.70

($/mmbtu)

global price picture

lng faq

wHat are tHe Swe anD nwe aSSeSSmentS?

Platts SWE LNG (Southwest Europe) is the daily assessment of the spot price for cargoes of LNG delivered ex-ship into Spain or Portugal. Platts NWE LNG (Northwest Europe) is the daily assessment of the spot price for cargoes of LNG delivered ex-ship into the UK and Belgium. Europe often competes with Asian-Pacific countries for LNG supplies and the SWE and NWE markers are therefore key references for producers, consumers and traders of natural gas and LNG globally.

wHat are fob miDDle eaSt, DeS weSt inDia anD fob auStralia?

Platts FOB Middle East (ME) is the daily assessment of free on board cargoes loaded in Ras Laffan, Qatar or Das Island, Abu Dhabi, representing the largest LNG production area in the world. DES West India represents a net forward from this value, adding the cost of freight to FOB ME. FOB Australia is a netback from the JKM, subtracting the cost of freight. Both of these make use of Platts Asia Pacific Carrier Day Rates.

wHat are aDPr anD aDtr?

The Platts Asia Pacific Carrier Day Rates (ADPR) and Atlantic LNG Day Rates (ATDR) are daily assessments of the spot charter rates for LNG carriers in the Asia Pacific and Atlantic region respectively.

Do SPot lng PriceS make tHe market too volatile?

An annual or multi-year contract price cannot capture the daily fluctuations in market value that occur in LNG, LNG shipping, and associated piped gas and oil markets around the world. Long-term LNG contracts expose either the buyer or seller to market price risk. Daily spot prices mitigate this risk by representing actual market value for product bought and sold each day. In many commodities, annual or monthly averages of daily spot prices (called floating prices) are therefore preferred for negotiating and settling long-term contracts, with locational, quality or customer-specific differentials typically applied to the underlying benchmark. Daily prices do not introduce volatility – rather, they make inherent market volatility both visible and manageable.

will financial DerivativeS for lng emerge?

As of September 2010, derivative financial (paper swap) LNG contracts have not emerged, although they are widely anticipated due to the fast pace of market commoditization. Consistent, high-frequency spot cargo prices are typically a pre-requisite for the development of financial derivative instruments, as greater price transparency helps financial institutions and market players to understand and thereby manage the financial risks faced in the underlying physical marketplace.

How are PlattS lng PriceS aSSeSSeD?

Platts’ experienced market reporters interview active market participants from across the industry spectrum on a daily basis. Confirmed spot cargo deals, firm bids/offers, current shipping costs and fundamental supply/demand conditions are collated, tested and analyzed. Platts then applies its methodology to assess the tradable value of LNG.

lng faq

wHere can i finD more about PlattS lng Price aSSeSSment metHoDology?

To read more about Platts methodology and specifications, please visit: http://www.platts.com/IM.Platts.Content/ MethodologyReferences/MethodologySpecs/lngmethodology.pdf

wHere are PlattS lng Price aSSeSSmentS PubliSHeD?

LNG spot price assessments are published in our daily news publication Platts lng Daily, and in the following Platts real-time services: natural gas alert (nga), Platts electricity alert (Pea), Platts european Power alert (ePa) and Platts global alert (Pga).

LNG Daily’s Terminal TrackerAugust 17, 2010

The McGraw-Hill Companies

www.platts.com

Asia

BANGLADESH

PROPOSEDBangladesh 3

CHINA

OVERVIEW 3

EXISTINGFujian LNG 3Guangdong 3Shanghai LNG 3

UNDER CONSTRUCTIONCNOOC-Zhejiang 3PetroChina-Dalian 3PetroChina-Rudong 3

APPROVEDCNOOC-Zhuhai 3

APPLIEDShandong 4Shenzhen-CNOOC 4

PROPOSEDCNOOC-Guangdong 4CNOOC-Hainan 4CNOOC-Hebei 4CNOOC-Jiangsu 4CNOOC-Liaoning 4CNOOC-Tianjin 4EurOrient Financial Group 4Macau 4PetroChina-Guangxi 4PetroChina-Hebei 5Shenzhen-PetroChina 5Sinogas-Shantou City 5Sinopec 5XinAo Gas 5Zhejiang LNG 5Zhuhai Zhenrong 5

WITHDRAWNCLP Power 5

INDIA

EXISTINGDahej LNG 5Hazira LNG 5

UNDER CONSTRUCTIONKochi LNG 6Ratnagiri Gas and Power 6

APPROVEDOil and Natural Gas Co. 6

PROPOSEDAdani Group 6Essar LNG 6Haldia 6Indian Oil Co. and a Chennai Petroleum subsidiary 6Kandla Port Trust 6Karnataka Power 6LNGL 7MMTC, possibly Bharat Petroleum 7

INDONESIA

PROPOSEDArun LNG 7North Sumatra 7Pertamina East Java 7Pertamina, Kogas 7Petrogas Wira Jatim 7PT Perusahaan Gas Negara 7PT Perusahaan Listrik Negara,Perusahaan Gas Negara 7

JAPAN - CHUBU REGION

EXISTINGChita Kyodo 7Chita LNG 7Chita Midorihama 8Kawagoe 8Nihonkai LNG 8Sakai LNG 8Shimizu LNG 8Yokkaichi LNG Center 8Yokkaichi Works 8

UNDER CONSTRUCTIONChubu Electric, Tohoku Electric 8Joetsu 8

PROPOSEDShin-Sendai 8

JAPAN - CHUGOKU REGION

EXISTINGChugoku Electric 8

Hiroshima Gas 8Mizushima LNG 9

JAPAN - HOKKAIDO REGION

PROPOSEDIshiraki 9Yufutsu 9

JAPAN - KANSAI REGION

PROPOSEDKansai Electric 9

JAPAN - KANTO REGION

EXISTINGFutsu 9Higashi Ogishima 9Ogishima 9Sodegaura 9Tokyo Electric Power, Tokyo Gas 9

PROPOSEDHitachi 10

JAPAN - KINKI REGION

EXISTINGHimeji 1 10Himeji 2 10Senboku 1 10Senboku 2 10

JAPAN - KYUSHU REGION

EXISTINGFukuoka-Hakata 10Kagoshima 10Kita Kyushu LNG 10Oita LNG 10Saibu Gas 10

PROPOSEDKita Kyushu City 10

JAPAN - SHIKOKU REGION

EXISTINGSakaide LNG 11

Continued on page 2

]AUGUST 17, 2010PLATTS LNG TRACKER - ASIA

3Copyright © 2010, The McGraw Hill Companies

BANGLADESH

PROPOSED

BANGLADESH

LOCATION: Near Chittagong (12/2/09), with a platform at off-shore Sangu field possible site for initial floating facility(2/5/10).

PARTNERS: Government, potentially Excelerate Energy, others(3/11/10, 12/2/09)

CAPACITY: At least 3.5 million mt/yr (448,000 Mcf/d)(12/02/09)

STORAGE: Not known

SUPPLY SOURCE: Possibly Qatar

STARTUP: Not known

CHINA

OVERVIEW

LATEST DEVELOPMENTS: Wood Mackenzie has raised its fore-cast of China’s LNG demand in 2020 to 46 million mt/year, upfrom its previous forecast of 31 million mt/year (7/26/2010).

EXISTING

FUJIAN LNG

LOCATION: Fujian-Xiuyu port, Putian city, Meizhou Bay

PARTNERS: CNOOC (60%), Fujian Zhongmin (40%)

CAPACITY: Phase 1: 2.6 million mt/yr; phase 2: 5 million mt/yr

STORAGE: Initially 320,000 cu m from two 160,000-cu-m full-containment tanks (7/30/07). Two more 160,000-cu-m tanksare scheduled to come online in 2011, for total storage of640,000 cu m (12/24/08).

SUPPLY SOURCE: Indonesia’s Tangguh LNG project

STARTUP: 2009 (7/2/08)

GUANGDONG

LOCATION: Guangdong-Dapeng Bay

PARTNERS: CNOOC (33%), BP (30%), local companies (31%),Hong Kong China Gas (6%)

CAPACITY: 6.7 million mt/yr

STORAGE: 480,000 cu m from three 160,000-cu-m tanks(9/13/07); fourth tank planned (9/8/09).

SUPPLY SOURCE: Australia

STARTUP: May 2006

SHANGHAI LNG

LOCATION: Shanghai-Zhongximentang Island in the deepwaterport area of Yangshan

PARTNERS: CNOOC subsidiary CNOOC Gas & Power (45%),Shenergy Group (55%)

CAPACITY: 3 million mt/yr

STORAGE: 495,000 cu m from three 165,000-cu-m tanks(1/25/08)

SUPPLY SOURCE: Possibly Malaysia

STARTUP: September 20, 2009 (9/24/09)

UNDER CONSTRUCTION

CNOOC-ZHEJIANG

LOCATION: Zhejiang-Wenzhou

PARTNERS: CNOOC, along with local partners Zhejiang EnergyGroup and Ningbo Power Development. The shareholdingstructure has not been disclosed (7/8/09).

CAPACITY: 3 million mt/yr (7/8/09)

STORAGE: Three 160,000-cu-m tanks (7/8/09)

SUPPLY SOURCE: Possibly Australia, Iran, Qatar

STARTUP: 2012, with a possible delay (7/8/09, 12/22/09)

PETROCHINA-DALIAN

LOCATION: Dalian, Liaoning province on the northeastern coast

PARTNERS: PetroChina (75%), the Dalian Port Authority (20%)and Dalian Construction Investment (5%), under a 50-yearjoint venture (3/20/09)

CAPACITY: 3 million mt/yr; plans to double capacity in secondphase

STORAGE: 320,000 cu m from two 160,000-cu- m (3.44 Bcf)tanks. It is unclear how many more tanks could be built,although previous reports said the facility could have threetanks (10/21/09)

SUPPLY SOURCE: Possibly Qatar, other sources

STARTUP: June 2011 (8/10/10)

PETROCHINA-RUDONG

LOCATION: Rudong (eastern Jiangsu province)

PARTNERS: Kunlun Energy (55%); Pacific Oil and Gas, a mem-ber of Singapore-based RGM Group (35%) and Jiangsu GuoxinInvestment Group (10%). Kunlun Energy is 50.74%-owned byPetroChina (5/19/10).

CAPACITY: 3.5 million mt/yr (1/20/10)

STORAGE: Two tanks, capacities not disclosed (3/9/10)

SUPPLY SOURCE: Australia, Qatar

STARTUP: April 2011 (8/10/10)

APPROVED

CNOOC-ZHUHAI

LOCATION: Zhuhai, Gaolan port, Guangdong province

PARTNERS: CNOOC (25%), power utility Guangdong YuedianGroup (30%), Guangzhou city (25%), a local investment com-pany (8%), and the cities of Foshan, Zhuhai, Zhongshan andJiangmen (each with 3%).

CAPACITY: 3.5 million mt/yr

LNG Daily’s Terminal Tracker

August 10, 2010

The McGraw-Hill Companies

www.platts.com

EMEA

ALBANIA

APPROVEDFalcione-Albanian venture 3

PROPOSEDASG Power, Albania 3

BAHRAIN

PROPOSEDGovernment sponsored 3

BELGIUM

EXISTINGFluxys LNG 3

APPLIEDExmar, other partners 3

BULGARIA

PROPOSEDBulgarian Energy Holdings (10/24/08) 3

CANARY ISLANDS

APPROVEDGasCan - Tenerife 4

PROPOSEDGasCan - Gran Canaria 4

CROATIA

APPROVEDAdria LNG 4

PROPOSEDPloce 4

CYPRUS

PROPOSEDGovernment 4

DUBAI

APPROVEDFloating facility 4

ESTONIA

PROPOSEDEstonia 4

FRANCE

EXISTINGFos sur Mer 5Montoir de Bretagne 5Fos Cavaou 5

PROPOSEDElectricite de France 5Fos Faster 5Gaz de Normandie 5

REJECTEDPegaz LNG 5

GERMANY

APPLIEDDeutsche FluesigerdgasTerminalgesellschaft 5

PROPOSEDVNG 6Wilhelmshaven GasPort 6

GREECE

EXISTINGRevithoussa 6

PROPOSEDAstakos 6Northern Greece 6

IRELAND

APPROVEDShannon LNG 6

ISRAEL

OVERVIEW 6

PROPOSEDIsrael’s National Infrastructure Ministry,potential foreign partners 6

ITALY

EXISTINGGNL Italia 7Terminale GNL Adriatico (Adriatic LNG) 7

UNDER CONSTRUCTIONOLT Offshore LNG Toscana 7

APPROVEDApi Nova Energia 7Brindisi LNG 7Nuove Energie 7

APPLIEDEndesa 7Gas Natural 7Gas Natural-Trieste 8Ionio Gas LNG 8LNG MedGas 8Rosignano Maritomo 8

PROPOSEDFalck-Calabria 8Falck-San Ferdinando 8GDF Suez 8Provincial government 8Triton 8

WITHDRAWNEni 8

KENYA

PROPOSEDEcoGas 8

KUWAIT

EXISTINGKuwait Petroleum 9

LITHUANIA

PROPOSEDNot known 9

POLAND

OVERVIEW 9

APPROVEDPolskie LNG 9

Continued on page 2

]LNG Daily’s Terminal Tracker

August 3, 2010

The McGraw-Hill Companies

www.platts.com

Americas

ARGENTINA

OVERVIEW 3

EXISTINGFloating terminal 3

PROPOSEDEscobar Floating Terminal 3Onshore terminal 3Zarate 3

BAHAMAS

APPLIEDAES Ocean LNG 3Tractebel Calypso 3

WITHDRAWNEl Paso 3

BRAZIL

EXISTINGGuanabara Bay 3Pecem 3

PROPOSEDPetrobras floating terminal 4Petrobras third floating terminal 4Petrobras, onshore facility 4Shell, Petrobras 4Tergas 4

CANADA

EXISTINGCanaport LNG 4

APPROVEDCacouna Energy Project 4MapleLNG 4Rabaska LNG 4

APPLIEDNewfoundland LNG 4

PROPOSEDWestPac Terminals Inc. 5

WITHDRAWNBear Head LNG 5Kitimat LNG 5WestPac 5

CHILE

EXISTINGGNL Mejillones 5GNL Quintero 5

CUBA

PROPOSEDCuba-Venezuela 5

DOMINICAN REPUBLIC

EXISTINGAES 5

EL SALVADOR

APPROVEDCutuco Energy Central America 5

JAMAICA

PROPOSEDJamaica 6

MEXICO

EXISTINGEnergia Costa Azul 6Terminal de LNG de Altamira 6

UNDER CONSTRUCTIONManzanillo LNG 6

APPLIEDTerminal GNL de Sonora 6

PROPOSEDCFE, Topolobampo Port 6Dorado HiLoad LNG 6IndiEnergy 7Lazaro Cardenas LNG 7Salina Cruz region 7

WITHDRAWNIsla Coronado 7

PANAMA

PROPOSEDLNG Group Panama 7

UNITED STATES

OVERVIEW 7

UNITED STATES - EAST COAST

EXISTINGCove Point LNG 7Distrigas of Massachusetts 7Neptune LNG 8Northeast Gateway 8Southern LNG 8

APPROVEDSparrows Point LNG 8

APPLIEDCalais LNG 8Downeast LNG 8Liberty Natural Gas Transmission Project 8Weaver’s Cove Energy 8

PROPOSEDBattery Rock 9BlueOcean Energy 9Crown Landing LNG 9Freedom Energy Center 9Somerset LNG 9Unknown 9

WITHDRAWNCalypso LNG 9

SUSPENDEDQuoddy LNG 9Safe Harbor Energy 9

REJECTEDBroadwater Energy 9KeySpan LNG 10

UNITED STATES - GULF COAST

EXISTINGCameron LNG 10Freeport LNG 10Gulf Gateway Energy Bridge 10Sabine Pass LNG 10Trunkline LNG 10

UNDER CONSTRUCTIONGolden Pass LNG 10Gulf LNG Clean Energy 10

Continued on page 2

]

JKM up 15 cents on higher bids for OctoberSingapore—Platts’ October LNG Japan Korea Marker was$8.30/MMBtu Monday, up 15 cents with higher bids for theperiod.

A North Asian buyer said his company could “purchase one or two cargoesfor October,” adding that he believes he could secure an October cargo for$8.10/MMBtu.

“Offers are in the low-$8s/MMBtu for October cargoes,” he said.A source said a Middle Eastern cargo slated to be loaded in mid-October is

being offered at $7.50/MMBtu on a free-on-board basis to North Asia. With afreight cost to Asia of $1/MMBtu, that would be equivalent to an offer of$8.50/MMBtu for a late-October delivery cargo.

The source added that there is demand for October cargoes from Japan’sTokyo Electric Power and South Korea’s Korea Gas. There could be moredemand from Taiwan’s CPC and China’s CNOOC for cargoes further out, atrader added.

“I heard that CPC will call a tender for October delivery shortly andCNOOC is also looking for an end-September-delivery cargo,” he said.

LNG DailyVolume 7 / Issue 161 / August 23, 2010

The McGraw Hill Companies

www.platts.com

Gassco to consider alternatives to pipelinesLondon—Norwegian gas grid operator Gassco has been told by the

Ministry of Petroleum and Energy to highlight alternatives to pipelines inits analysis of gas transport options from fields on the NorwegianContinental Shelf, it said Monday.

Pipelines now are the principal export method for Norwegian gas deliveries.Gassco previously studied the possibility of LNG shipments from the Luva

field in Norwegian Sea as a full or partial export solution, but determined itwas a significantly cheaper solution to build a pipeline to existing gasinfrastructure, it said.

(continued on page 2)

(continued on page 6)

METI approves restart of Tepco nuclear unitTokyo—Japan’s Ministry of Economy, Trade and Industry has concluded

that Tokyo Electric Power’s 1.1-GW No. 5 reactor at the earthquake-hitKashiwazaki-Kariwa nuclear plant is safe to restart, a ministry official saidMonday.

METI planned to present its assessment Monday to the country’s NuclearSafety Commission, the official said. It was the ministry’s first approval torestart the No. 5 reactor since its automatic shutdown in the wake of a majorearthquake July 16, 2007.

The ministerial green light means Tepco now only needs approvals fromthree local authorities—the Niigata Prefectural Government, Kashiwazaki Cityand Kariwa Village—to restart the No. 5 unit. Once approvals from localauthorities are received, Tepco would proceed with a conditional restart of thereactor to carry out final tests, which are expected to last about 45 days.

The No. 5 reactor would be the fourth to restart at the seven-unit 8.212-GWKashiwazaki-Kariwa nuclear power plant, which was totally shut after theearthquake. Tepco restarted commercial operations at the 1.1-GW No. 1 reactor

(continued on page 6)

Platts daily LNG markers ($/MMBtu)

August 23, 2010 Change

DES Japan/Korea Marker (JKM)

JKM (Oct) 8.300 0.150 ▲

H2 Sep 8.150 0.100 ▲

H1 Oct 8.250 0.150 ▲

H2 Oct 8.350 0.150 ▲

DES Southwest Europe Marker (SWE)

SWE (Oct) 6.423 -0.215 ▼

H2 Sep 6.086 -0.188 ▼

H1 Oct 6.311 -0.206 ▼

H2 Oct 6.536 -0.223 ▼

DES Northwest Europe Marker (NWE)

NWE (Oct) 6.085 -0.202 ▼

H2 Sep 5.774 -0.178 ▼

H1 Oct 5.972 -0.193 ▼

H2 Oct 6.197 -0.211 ▼

FOB Middle East

FOB Middle East 7.200 0.150 ▲

DES West India

DES West India 7.540 0.150 ▲

FOB Australia

FOB Australia 7.620 0.150 ▲

]

Global price comparisons ($/MMBtu)

Source: Platts

4

6

8

10

12

23-Aug18-Aug13-Aug10-Aug04-Aug30-Jul27-Jul22-Jul

Japan Korea Marker UK NBP promptNYMEX Henry Hub prompt

THEMARKET

Shipping rates: Aug 23, 2010 ($/day)

Asia Pacific Day Rate 40,000

Atlantic Day Rate 42,000

Europe ($/MMBtu)

DES Southwest Europe Marker (SWE)SWE (Nov) 7.957Dated Brent 14.694SWE vs. Henry Hub futures 3.877SWE vs. NBP futures 0.850SWE vs. Dated Brent -6.737SWE vs. NWE 0.475SWE vs. JKM -1.243

DES Northwest Europe Marker (NWE)NWE (Nov) 7.482Dated Brent 14.694NWE vs. Henry Hub futures 3.402NWE vs. NBP futures 0.375NWE vs. Dated Brent -7.212NWE vs. SWE -0.475NWE vs. JKM -1.718NWE as a % of NBP 105.27

Competing fuel pricesNorthwest Europe fuel oil 10.98ARA coal 3.90

For more information, please contact the Platts sales office nearest you.

North America EMEA Latin America Asia-Pacific Russia www.platts.com +1-800-PLATTS8 (toll-free) +44-(0)20-7176-6111 +54-11-4804-1890 +65-6530-6430 +7-495-783-4141 support@platts.com +1-212-904-3070 (direct)

lng faq

wHo SHall i contact for more DetailS on lng?

For more information from our editorial staff on LNG, please contact LNG@platts.com.

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•PlattsNaturalGasAlert Platts Natural Gas Alert provides news and market coverage of the North American natural gas industry, including intraday

reports on trading and key end-of-day gas price assessments.

•PlattsElectricityAlert Platts Electricity Alert provides real-time news and market coverage of the North American electric power industry,

includingspotmarkettransactionreports,end-of-daypriceassessments,weatherreportsandproductionfigures.

•PlattsEuropeanPowerAlert Platts European Power Alert offers real-time news and market coverage of the European gas and power markets, including

independent price discovery and market commentary, vital cross-fuel comparisons, information on fundamentals (i.e. weather), nuclear power and hydro-electric reservoir levels. EPA also delivers daily exchange summaries direct from each of the leading European exchanges.

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