SGX sets up LNG price index
In an attempt to accomplish greater transparency in physical LNG spot trading in Asia, Singapore Exchange has revealed its price index.
Called the Free on Board Singapore SGX LNG Index Group it comes to light following an eight months long process, Pavilion Energy started with a number of stakeholders in order to create an LNG price marker, the Business Times report.
Data for the FOB Singapore SLInG has been compiled since January, according to SGX’s vice president Michael Syn. He added that 10 global players are to join the group of 13 international LNG players that have already joined the index.
LNG players will offer a fair assessment of LNG cargo prices at a virtual point off Singapore and the index will be based on the averaged submissions.
According to Pavilion Energy’s CEO Seah Moon Ming, due to the lack of a clear price benchmark Asia paid a premium of US$130 billion for LNG compared to US and European benchmarks.
SGX informed it is looking for industry participants’ feedback on the index a hopes to be able to launch a physical trading facility in the future.
LNG World News Staff; Image: Singapore LNG
List of related news articles
-
Posted: 3 days ago
IAPH, Green Award team up on Environmental Ship Index
The International Association of Ports and Harbors (IAPH) has signed a contract with the Green Award...
Posted: 3 days ago -
Posted: 4 days ago
Japanese spot LNG price highest since December 2018
Prices of spot liquefied natural gas (LNG) imported into Japan are continuing their rise pushed by d...
Posted: 4 days ago -
Posted: about 1 month ago
Titan LNG launches LNG price comparison tool
Dutch independent LNG supplier Titan LNG, has launched a tool aiming to provide clarity on prices fo...
Posted: about 1 month ago -
Posted: about 1 month ago
Japanese spot LNG prices rise continues
Prices of spot liquefied natural gas (LNG) imported into Japan and contracted during the month of No...
Posted: about 1 month ago