The signing of the MoU was announced ahead of the 5th annual LNG Producer-Consumer Conference in Tokyo, Japan. The conference will be hosted by Japan’s Ministry of Economy, Trade and Industry and the Asia Pacific Energy Research Centre.
Potential areas of cooperation under the MoU include the following:
- Joint study of the benefits of product initiatives, i.e. the co-listing of LNG derivatives based on relevant indices.
- Joint study of synergies between SGX and TOCOM market distribution networks.
- Joint promotion and development activities.
- Sharing experience in the development of the electricity market in their respective jurisdictions.
The CEO of SGX, Loh Boon Chye, said: “We are pleased to work together with the Tokyo Commodity Exchange to develop initiatives that serve the Asian LNG market. With Singapore enhancing its role as an LNG trading hub, SGX looks forward to bringing value to the cooperation through the depth of our international market distribution. We are also happy to share our experience in developing Asia’s first electricity futures.”
The President and CEO of TOCOM, Takamichi Hamada, added: “Through our cooperative relationship with Singapore Exchange, we expect to provide greater benefits to all market participants in the Asian LNG market. Based in Japan, which is the largest LNG demand centre in the world, TOCOM would like to contribute to this partnership to develop an LNG market which optimally represents the interests of both suppliers and consumers. We also look forward to drawing on SGX’s experience in electricity futures, as a liquid electricity market is closely linked to the development of the LNG market.”
Read the article online at: https://www.lngindustry.com/regasification/22112016/sgx-and-tocom-sign-mou-to-develop-asian-lng-market/