The FAA defines QNE as,
QNE- The barometric pressure used for the standard altimeter setting (29.92 inches Hg.)
https://www.faa.gov/air_traffic/publ...lossary-q.html
More here at Section 5 of the air traffic control procedures and phraseology .
https://www.faa.gov/documentLibrary/...r/7110.65Y.pdf