OREANDA-NEWS. SGX and EMC are pleased to announce the introduction of the second Sling index – the North Asia Sling – which will complement the existing Singapore Sling. The new North Asia Sling was created based on feedback from market participants for the Sling methodology to be extended to serve the relevant market interest. The first publication of the North Asia Sling index is as follows.

North Asia Sling (US$/mmBtu) on publication date 19 September 2016

Period Value
Index (November) 5.641
H2 Oct 5.570
H1 Nov 5.620
H2 Nov 5.663
H1 Dec 5.750

SGX and EMC expects keen interest in the North Asia Sling as the region comprising Japan, Korea, Taiwan and China continues to account for over 60% of global LNG demand and will remain critical to the global LNG trade in the coming years. The new index will complement the existing Singapore Sling with each representing the pricing dynamics of their respective regions. The Singapore Sling will serve as a reference point for the fast growing and developing South-East Asian LNG market and the North Asia Sling will serve as a much needed transparent and representative price for the traditional centre of demand.