Comparative Study of the Evolution of Natural Gas Spot Prices in Asia and North America

摘要

Increased spot trade in Asia together with market liberalization efforts in the region has increased the global relevance of an Asian spot price. The Singapore based Sling prices were established at this critical juncture of a market shift. Our preliminary studies of the price relationship finds a movement away from oil indexed relationship of the Sling price. We also find that relative supply abundance since 2015, lack of demand shocks and determined by large consumers to buy more gas from spot market based trade may have contributed to this structural breaks.