SINGAPORE (Nov 22): The Singapore Exchange and Tokyo Commodity Exchange (TOCOM) has signed a memorandum of understanding to cooperate in developing the liquefied natural gas (LNG) market in Asia.

The two countries will play an important role in enhancing price discovery of spot LNG in Asia, a key component in moving towards gas-on-gas pricing based on an Asian LNG price, instead of long-term contracts and pricing linked to oil. Both exchanges will also be sharing expertise on electricity futures, with TOCOM looking to develop similar products like the SGX’s electricity futures, first listed in 2015.

SGX and TOCOM will potentially cooperate in:

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