Energy market financialization: Empirical evidence and implications from East Asian LNG markets

Shi, X; Shen, Y; Wu, Y

Energy market financialization: Empirical evidence and implications from East Asian LNG markets

Shi, X

Shen, Y Wu, Y

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Publication Type:: Journal Article
Citation:: Finance Research Letters, 2019, 30 pp. 414 - 419
Issue Date:: 2019-09-01

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Field	Value	Language
dc.contributor.author	Shi, X https://orcid.org/0000-0001-9653-7395	en_US
dc.contributor.author	Shen, Y	en_US
dc.contributor.author	Wu, Y	en_US
dc.date.available	2021-03-22T18:07:02Z
dc.date.issued	2019-09-01	en_US
dc.identifier.citation	Finance Research Letters, 2019, 30 pp. 414 - 419	en_US
dc.identifier.issn	1544-6123	en_US
dc.identifier.uri	http://hdl.handle.net/10453/138844
dc.description.abstract	© 2019 Elsevier Inc. In the process of transferring from oil indexation to competitive pricing for natural gas, the number of potential gas trading hubs that underpin the competitive prices is a key question, but lack of empirical investigations. This study employs a Structure Vector Auto-regression model (SVAR) and monthly LNG price data of four East Asian importers to examine whether the natural gas markets are integrated among them. The study finds that LNG markets are fragmented in East Asia. The results suggest that there should be multiple LNG benchmark trading hubs at the time being so that each hub could reflect different fundamentals.	en_US
dc.relation.ispartof	Finance Research Letters	en_US
dc.relation.isbasedon	10.1016/j.frl.2019.02.004	en_US
dc.rights	info:eu-repo/semantics/openAccess
dc.subject.classification	Finance	en_US
dc.title	Energy market financialization: Empirical evidence and implications from East Asian LNG markets	en_US
dc.type	Journal Article
utslib.citation.volume	30	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (International)
pubs.organisational-group	/University of Technology Sydney/DVC (International)/Australia-China Relations Institute
utslib.copyright.status	open_access	*
pubs.publication-status	Published	en_US
pubs.volume	30	en_US

Abstract:

© 2019 Elsevier Inc. In the process of transferring from oil indexation to competitive pricing for natural gas, the number of potential gas trading hubs that underpin the competitive prices is a key question, but lack of empirical investigations. This study employs a Structure Vector Auto-regression model (SVAR) and monthly LNG price data of four East Asian importers to examine whether the natural gas markets are integrated among them. The study finds that LNG markets are fragmented in East Asia. The results suggest that there should be multiple LNG benchmark trading hubs at the time being so that each hub could reflect different fundamentals.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/138844