Asian Spot Prices for LNG and other Energy Commodities
研究了亚洲液化天然气现货价格（JKM）与布伦特原油、燃料油和动力煤现货价格的关系，发现JKM能反映燃料间竞争，适合作为亚洲长期液化天然气合同的参考价格。
We investigate the relationship between the Japan-Korea Marker (JKM) price of LNG, which has become more important as spot trading of LNG has increased, and spot prices of Brent oil, fuel oil and thermal coal in Asia. We find that the JKM price appears to reflect inter-fuel competition in Asia. In this respect, it could be better than oil or other spot natural gas prices as a reference price for indexing long-term LNG contracts in Asia. The JKM may also be suitable for underpinning the development of an LNG pricing hub in Asia with associated derivatives markets.