The strategic vision of creating an interconnected gas-to-gas market and trading gas hubs in East Asia is essential to lowering LNG costs for Asia’s natural gas market - projected to become the second-largest in the world by 2015. Major change is the only way for Asia to compete economically against the United States where LNG prices are up to six times cheaper.

<i>As the Asia-Pacific region is absorbing the biggest part of the rising global LNG trade over the next decades, its future regional LNG trade will have global implications for other regional gas markets. Singapore, Japan, China and South Korea have declared their interest in encouraging competition on their gas markets...

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Dr. Frank Umbach
Asia’s share of global LNG trading has increased from 64 per cent in 2011 to 71 per cent in 2012 and 75 per cent in 2013
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