Asia LNG swap market to be driven by smaller consumers

South Asia set to drive development of derivative market in the medium term

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Energy firms wishing to enter the liquefied natural gas (LNG) sector need deep pockets. The costs required construct the necessary facilities to extract, liquefy, transport and regasify are substantial – ExxonMobil's Papua New Guinea LNG project will start production in May following a $19 billion investment by the US firm, for example.

And the timelines involved are long: each liquefaction terminal takes around four years to come online.

"Compare LNG to the Singapore fuel oil market: it doesn't

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