Gas and LNG pricing and trading hub in East Asia: An introduction

Shi, X

Gas and LNG pricing and trading hub in East Asia: An introduction

Shi, X

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Publisher:: Elsevier BV
Publication Type:: Journal Article
Citation:: Natural Gas Industry B, 2016, 3, (4), pp. 352-356
Issue Date:: 2016-10-01

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Field	Value	Language
dc.contributor.author	Shi, X https://orcid.org/0000-0001-9653-7395
dc.date.accessioned	2021-02-01T23:03:33Z
dc.date.available	2021-02-01T23:03:33Z
dc.date.issued	2016-10-01
dc.identifier.citation	Natural Gas Industry B, 2016, 3, (4), pp. 352-356
dc.identifier.issn	2352-8540
dc.identifier.issn	2352-8559
dc.identifier.uri	http://hdl.handle.net/10453/145718
dc.description.abstract	© 2017 Sichuan Petroleum Administration This paper summarizes the four papers in the special issues on ‘Gas and LNG pricing and trading hub in East Asia’. The papers examine lessons and experience from European hub development, other commodity, the Japanese history on developing of futures markets and inter-fuel substitution in East Asia. The papers finds that liquid futures market is the key to formulate benchmark prices while a well-developed spot market is the foundation; political will and strong leadership are required to overcome the power of incumbents and to restructure the gas market that impede the the development of competitive markets; and East Asia needs to develop its indigenous gas or LNG trading hubs even in low oil prices period and its developing market allows easier changes in new contracts than in existing ones. This hub development requires governments to go through tough domestic market reforms, including liberalization and cooperation with each other and with gas exporters.
dc.language	en
dc.publisher	Elsevier BV
dc.relation.ispartof	Natural Gas Industry B
dc.relation.isbasedon	10.1016/j.ngib.2016.12.008
dc.rights	Elsevier required licence: © 2016 . This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/. The definitive publisher version is available online at https://doi.org/10.1016/j.ngib.2016.12.008	en_US
dc.rights	info:eu-repo/semantics/openAccess
dc.title	Gas and LNG pricing and trading hub in East Asia: An introduction
dc.type	Journal Article
utslib.citation.volume	3
pubs.organisational-group	/University of Technology Sydney/DVC (International)
pubs.organisational-group	/University of Technology Sydney/DVC (International)/Australia-China Relations Institute
pubs.organisational-group	/University of Technology Sydney
utslib.copyright.status	open_access	*
dc.date.updated	2021-02-01T23:03:27Z
pubs.issue	4
pubs.publication-status	Published
pubs.volume	3
utslib.citation.issue	4

Abstract:

© 2017 Sichuan Petroleum Administration This paper summarizes the four papers in the special issues on ‘Gas and LNG pricing and trading hub in East Asia’. The papers examine lessons and experience from European hub development, other commodity, the Japanese history on developing of futures markets and inter-fuel substitution in East Asia. The papers finds that liquid futures market is the key to formulate benchmark prices while a well-developed spot market is the foundation; political will and strong leadership are required to overcome the power of incumbents and to restructure the gas market that impede the the development of competitive markets; and East Asia needs to develop its indigenous gas or LNG trading hubs even in low oil prices period and its developing market allows easier changes in new contracts than in existing ones. This hub development requires governments to go through tough domestic market reforms, including liberalization and cooperation with each other and with gas exporters.

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http://hdl.handle.net/10453/145718