S'pore LNG index can be Asia benchmark in a year or two: SGX
It says the LNG spot market in Asia would take time to evolve, but the factors aiding it are already in place
Singapore
THE next one to two years presents "a clear window" for the Singapore liquefied natural gas (LNG) price index to be accepted as the Asian benchmark, said the Singapore Exchange on Thursday, as it outlined the next phases expected in its development.
It said in a report that the liquid LNG spot market in Asia would take time to evolve, but that many of the crucial elements were already emerging; these included a shift towards shorter-term contracts, a move away from oil indexation, removal of destination restrictions on cargoes and increased flexibility of gas specification at destination.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data
Oil settles lower as US business activity cools, concerns over Middle East ease
Orsted says Taiwan wind project to power TSMC on track for 2025 finish