Platts of S&P Global Commodity Insights launches Southeast Asia LNG (SEAM) cargo price assessments

Rhea-AI Summary

Platts launches daily Southeast Asia LNG cargo assessments to bring price transparency to the fast-developing market. Southeast Asia expected to become a major hub for LNG consumption. LNG imports into the region expected to rise to 31 million mt in 2025 and 56 million mt in 2030. Number of regasification terminals expected to increase from 14 in 2023 to 24 by 2030.

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• Platts launches daily Southeast Asia LNG cargo assessments to bring price transparency to the fast-developing market. Southeast Asia expected to become a major hub for LNG consumption. LNG imports into the region expected to rise to 31 million mt in 2025 and 56 million mt in 2030. Number of regasification terminals expected to increase from 14 in 2023 to 24 by 2030.

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Latest assessment reflects burgeoning LNG demand and spot trade in the region

SINGAPORE, Oct. 23, 2023 /PRNewswire/ -- Platts, part of S&P Global Commodity Insights, the leading independent provider of information, analysis, data and benchmark prices for commodities, energy and energy transition markets, has announced the launch of new daily Southeast Asia LNG (SEAM) cargo assessments, the first for the region, to bring price transparency to this fast-developing market. The assessments are published as a differential to the Platts JKM, as well as on an outright basis.

Ciaran Roe, Global Director for LNG at S&P Global Commodity Insights said, "Southeast Asia is expected to become a major hub for the consumption of LNG, with its changing energy mix and increasing power demand. Gas and power market liberalization continues apace as seen in developments in pricing policies and third-party access of LNG terminal infrastructure for these markets.

The launch of Platts Southeast Asia LNG (SEAM) assessment marks a further milestone in the rapid commoditization of the LNG market in Southeast Asia, where contracts are already linked to JKM LNG prices. The development of a Southeast Asia LNG cargo price reference will also foster the advancement of related markets like small-scale LNG and LNG bunkering in the region."

"The integrity of the methodology underpinning our assessment processes allows Platts price benchmarks like JKM and WIM to be relied upon by the world's most important energy markets," added Roe.

Southeast Asia is poised to be a key growth driver for global LNG demand, with imports into the region expected to increase significantly and play a crucial role in the region's decarbonization efforts.

The recent start-up of receiving terminals in new import markets Vietnam and Philippines will fuel growing economies, while Thailand and Singapore have shown strong import increases in 2023. Traditional exporters Malaysia and Indonesia are also expected to import more LNG in future.

According to S&P Global Commodity Insights, Southeast Asia LNG imports are expected to rise to 31 million metric tons (mt) in 2025, and to 56 million mt in 2030. This growth will be aided by an expansion in import capacity, with the number of regasification terminals expected to increase from 14 in 2023 to 24 by 2030.

The Southeast Asia LNG (SEAM) cargo assessments reflect the trade-able value of cargoes delivered to markets in Thailand, Singapore, Vietnam or Philippines, with volume of 3.4 TBtu and GHV 1000-1150 Btu/scf.

For more details, see subscriber note.

LNG DES Southeast Asia Marker (SEAM) $/MMBtu LNJSA00     
LNG DES JKM vs Southeast Asia Marker (SEAM) $/MMBtu LNJSB00     
LNG DES Southeast Asia Marker 1 Half-Month $/MMBtu LNJSA10 
LNG DES Southeast Asia Marker 2 Half-Month $/MMBtu LNJSA20    
LNG DES Southeast Asia Marker 3 Half-Month $/MMBtu LNJSA30  
LNG DES Southeast Asia Marker 4 Half-Month $/MMBtu LNJSA40  

The assessments may be found in S&P Global Commodity Insights products and services, including: Platts LNG Daily, Platts LNG and Natural Gas Alert pages, Platts Dimensions Pro, and in the Platts price database.

Media Contacts:
Global/EMEA: Paul Sandell, +44 7816 180039, paul.sandell@spglobal.com
Americas: Kathleen Tanzy, + 1917 331 4607, kathleen.tanzy@spglobal.com
Asia: Melissa Tan, + 65 68189 7569, melissa.tan@spglobal.com 

About S&P Global Commodity Insights
At S&P Global Commodity Insights, our complete view of global energy and commodity markets enables our customers to make decisions with conviction and create long-term, sustainable value. 

We are a trusted connector that brings together thought leaders, market participants, governments, and regulators and we create solutions that lead to progress. Vital to navigating commodity markets, our coverage includes oil and gas, power, chemicals, metals, agriculture, shipping and energy transition. Platts^® products and services, including the most significant benchmark price assessments in the physical commodity markets, are offered through S&P Global Commodity Insights. 

S&P Global Commodity Insights is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information visit https://www.spglobal.com/commodityinsights.

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SOURCE S&P Global Commodity Insights

FAQ

What is the purpose of Platts' new daily Southeast Asia LNG cargo assessments?

Platts launched the assessments to bring price transparency to the fast-developing Southeast Asia LNG market.

What is the expected growth of LNG imports in Southeast Asia?

LNG imports into Southeast Asia are expected to rise to 31 million mt in 2025 and 56 million mt in 2030.

How many regasification terminals are expected to be in operation by 2030?

The number of regasification terminals in Southeast Asia is expected to increase from 14 in 2023 to 24 by 2030.