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
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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.
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