SGX to stop publishing LNG indices, Latest Business News - The New Paper

SGX to stop publishing LNG indices

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Singapore Exchange will stop producing and publishing its spot price indices - Sling - for liquefied natural gas (LNG), less than four years after their launch, dashing the city-state's hopes of becoming Asia's main pricing hub for the fuel.

Sling - short for SGX LNG Index Group - indices will be published until Oct 31 this year, provided "there is sufficient data for an accurate and robust index to be published", the Energy Market Company (EMC) said in an undated statement on its website.

Sling was developed jointly by EMC, the market operator of Singapore's wholesale electricity market, and Singapore Exchange (SGX), and introduced in late 2015 in a bid to develop Singapore as a price hub for the super-chilled fuel.

EMC will discontinue the Sling indices after low participation over the past few years, an SGX spokeswoman told Reuters.

SGX delisted the futures and swaps settling on these indices with effect from July 29, she added.

"LNG remains an important commodity for SGX. Following our acquisition of the Baltic Exchange in 2016, we are refocusing our efforts on the carriage of LNG as an internationally traded seaborne commodity," she said, adding that the company will shift efforts toward delivering indices for LNG shipping.- REUTERS