The most volatile Asian spot LNG prices on record this year have done little to spur development of a representative pricing index amid continued concerns about lack of transparency and liquidity. Buyers are keen to see a price index that would reflect regional fundamentals and reduce the "Asian premium" they pay as a result of oil-linked term prices. But the imminent arrival of new Australian supply is unlikely to add much momentum, given current low oil prices, and industry players believe the push for a regional price index won't gain much traction before 2018-19, when more destination-free US LNG exports hit the market and increase traded volumes (WGI Dec.3' 14).
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